Key Events This Week
09 Feb: Stock gains 2.03% on strong volume, Sensex up 1.04%
10 Feb: Mojo Grade upgraded to Hold; stock rises 0.55%
11-13 Feb: Three-day decline totaling 3.79%, technical momentum shifts sideways
13 Feb: Week closes at ₹255.10, down 1.24% for the week
Monday, 09 February: Strong Start with 2.03% Gain
Vardhman Special Steels Ltd opened the week on a positive note, closing at ₹263.55, up ₹5.25 or 2.03% on volume of 1,945 shares. This outpaced the Sensex’s 1.04% gain to 37,113.23 points. The stock’s strong performance was supported by renewed buying interest, reflecting optimism following recent technical improvements. The intraday range was relatively stable, signalling steady demand at higher levels.
Tuesday, 10 February: Mojo Grade Upgrade Spurs Further Gains
The stock extended gains to close at ₹265.00, a 0.55% increase from Monday’s close, on lighter volume of 769 shares. This followed MarketsMOJO’s upgrade of Vardhman Special Steels Ltd from Sell to Hold, citing improved technical indicators and valuation metrics. The upgrade reflected a shift from sideways to mildly bullish technical trends, including a bullish weekly RSI and mildly bullish daily moving averages. Despite mixed signals from MACD and other oscillators, the rating change provided a positive catalyst.
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Wednesday, 11 February: Profit Taking Triggers 1.42% Decline
Profit-taking emerged as the stock reversed course, closing at ₹261.25, down ₹3.75 or 1.42% on thin volume of 178 shares. The Sensex continued to inch higher by 0.13% to 37,256.72 points, highlighting the stock’s relative weakness. The decline coincided with mixed technical signals, including a bearish weekly MACD and bearish weekly KST, which suggested short-term momentum was faltering despite the recent upgrade.
Thursday, 12 February: Continued Weakness Amid Sector Volatility
The stock slipped further by 0.54% to ₹259.85 on volume of 183 shares, underperforming the Sensex which fell 0.56% to 37,049.40. Technical indicators showed a shift from mildly bullish to sideways momentum, with Bollinger Bands indicating mild bearishness and On-Balance Volume trending mildly bearish monthly. The stock hovered near support levels but lacked strong buying interest, reflecting cautious sentiment amid broader market uncertainties.
Friday, 13 February: Week Ends with 1.83% Drop, Technical Momentum Sideways
Vardhman Special Steels Ltd closed the week at ₹255.10, down 1.83% on higher volume of 1,305 shares, marking a 1.24% decline for the week. The Sensex fell 1.40% to 36,532.48, indicating the stock underperformed the benchmark. Technical momentum shifted to a sideways trend, with weekly MACD bearish and RSI bullish, reflecting a complex interplay of signals. The stock remains well below its 52-week high of ₹322.35 but comfortably above the 52-week low of ₹178.30, suggesting consolidation amid mixed market cues.
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Weekly Price Performance: Vardhman Special Steels Ltd vs Sensex
| Date | Stock Price | Day Change | Sensex | Day Change |
|---|---|---|---|---|
| 2026-02-09 | Rs.263.55 | +2.03% | 37,113.23 | +1.04% |
| 2026-02-10 | Rs.265.00 | +0.55% | 37,207.34 | +0.25% |
| 2026-02-11 | Rs.261.25 | -1.42% | 37,256.72 | +0.13% |
| 2026-02-12 | Rs.259.85 | -0.54% | 37,049.40 | -0.56% |
| 2026-02-13 | Rs.255.10 | -1.83% | 36,532.48 | -1.40% |
Key Takeaways
Positive Signals: The upgrade to a Hold rating by MarketsMOJO on 9 February marked a technical and valuation improvement, reflecting a shift from a Sell stance. The stock’s weekly RSI remained bullish throughout the week, indicating underlying buying interest. Daily moving averages turned mildly bullish early in the week, supporting short-term momentum. Long-term returns remain robust, with a 5-year gain of 335.70% and a 10-year return exceeding 1,300%, underscoring the company’s resilience.
Cautionary Signals: Despite early gains, the stock declined over the last three trading sessions, signalling profit-taking and technical uncertainty. Weekly MACD and KST indicators remained bearish, suggesting medium-term momentum weakness. On-Balance Volume was mildly bearish, indicating volume trends do not strongly support price advances. The stock’s underperformance relative to the Sensex (-1.24% vs -0.54%) highlights recent volatility and sector pressures. The sideways technical trend and proximity to support levels call for cautious monitoring.
Conclusion
Vardhman Special Steels Ltd experienced a mixed week, starting with optimism driven by a rating upgrade and mild bullish momentum, but ending with a retreat amid mixed technical signals and broader market weakness. The stock’s long-term performance remains impressive, yet short-term volatility and technical divergences suggest a consolidation phase. Investors should watch key technical levels, including support near ₹255 and resistance around ₹265, alongside volume trends and sector developments. The Hold rating reflects a balanced view acknowledging both the company’s solid fundamentals and the current technical caution.
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