NSE Stocks: Mphasis, Balkrishna, Hyundai Shifts
Mphasis' Altra Score jumped to 77.6 Bullish on August 3, leading a trio of NSE stocks including Balkrishna and Hyundai showing significant momentum
- Visit the stock pages: MPHASIS, BALKRISIND, HYUNDAI
- Sector CNXIT , which ranks #3 for Relative Strength (Altra Sector score of 59.0 with neutral regime.)
The Indian equities market, specifically the NSE, is exhibiting a nuanced momentum picture as reflected by AltraOne's analytics. The Altra Market score, which gauges overall market texture by tracking the percentage of stocks trading above key Exponential Moving Averages (EMAs), currently stands at 60.1 and is categorized as 'Improving'. This suggests a constructive underlying shift in market breadth, with 68.0% of stocks above their 20-day EMA, 64.0% above their 50-day, and 62.0% above their 200-day EMAs. However, the daily advances/declines ratio of 6/44 on the specific tracking date highlights that while the overall momentum is improving, current market sentiment still necessitates a selective approach for traders and investors. Against this evolving backdrop, several individual stocks have displayed significant momentum shifts. The Altra Score, a proprietary 0-100 momentum rating for individual stocks, synthesizes EMA alignment and Relative Strength Index (RSI) trends across daily, weekly, and monthly timeframes – with higher scores signaling more bullish momentum. Similarly, the Altra Sector score offers a parallel momentum read at the sector level, complemented by a relative strength ranking against other sectors in the same market, providing crucial context for sector rotation. Here's a look at three NSE stocks, spanning the Nifty IT and Auto-related sectors, that recently saw notable changes in their Altra Scores.
MPHASIS
Mphasis Ltd. (MPHASIS), a prominent name in the Nifty IT sector, experienced a substantial bullish surge on August 3, 2026. Its Altra Score leaped from 52.4, previously indicating a 'Neutral' momentum, to a robust 77.6, firmly establishing a 'Bullish' stance. While the stock's current standing at an Altra Score of 68.7 remains 'Bullish', the initial acceleration on that date marked a significant turning point. The broader Nifty IT sector itself, with an Altra Sector score of 59.0, currently maintains a 'Neutral' momentum but is notably gaining relative strength, as indicated by an RS RSI of 51.6. This suggests that while the sector as a whole is not yet in a confirmed uptrend, individual players like Mphasis are showing leadership. Delving into Mphasis's technicals, its Daily and Weekly Relative Strength Index (RSI) figures are comfortably above 50, at 54.17 and 51.33 respectively, signaling positive short-to-medium-term momentum. However, its Monthly RSI, at 48.9, sits just below the 50-mark, suggesting that longer-term momentum might still be consolidating. Despite a bearish Weekly EMA Crossover recorded earlier in February 2026, the stock's price has since moved above its key Exponential Moving Averages (EMAs), a typically bullish technical configuration. The fact that it is not yet 'top-down aligned' implies that while some timeframes exhibit strong momentum, a complete and consistent multi-timeframe alignment is still in development, warranting a nuanced view.
BALKRISIND
Balkrishna Industries Ltd. (BALKRISIND) demonstrated sustained strength, maintaining its 'Strong Bullish' status on August 3, 2026. Although its Altra Score saw a minor adjustment from an exceptionally high 90.7 to 80.0, it remains firmly within the 'Strong Bullish' category, signifying very robust underlying momentum. The stock's technical indicators reinforce this strength. Its Relative Strength Index (RSI) across all three timeframes – Daily, Weekly, and Monthly – are firmly in bullish territory, standing at 68.65, 56.31, and 51.36 respectively. The Daily RSI, in particular, points to significant upward pressure. Furthermore, BALKRISIND's price action is positioned above its key Exponential Moving Averages (EMAs), which is a classic indicator of an uptrend. A noteworthy bullish Weekly EMA Crossover was registered on August 3, 2026, coinciding with the score adjustment. This crossover, where a shorter-term EMA moves above a longer-term one, is often interpreted by technical analysts as a strengthening of bullish sentiment. Despite these strong readings, the absence of 'top-down alignment' suggests that while the stock exhibits powerful momentum across certain timeframes, a fully synchronized bullish trend across all observed periods (daily, weekly, monthly) may still be unfolding, requiring ongoing vigilance.
HYUNDAI
Hyundai Motor India Ltd. (HYUNDAI) stands out with persistently strong momentum, holding its 'Strong Bullish' classification on August 3, 2026. Its Altra Score registered an impressive 90.4, barely shifting from its prior 90.7, underscoring consistent and powerful bullish sentiment. This high score is a testament to the stock's enduring positive price action across multiple timeframes. The momentum indicators for HYUNDAI are particularly compelling. Its Relative Strength Index (RSI) readings across all timeframes are exceptionally strong: Daily RSI is at an elevated 75.5, signaling significant buying interest and potentially overbought conditions in the short term, while Weekly at 62.89 and Monthly at 58.81 maintain robust bullish momentum. The stock's price is comfortably positioned above its key Exponential Moving Averages (EMAs), which serves as a fundamental confirmation of an ongoing uptrend. Complementing this, a bullish Weekly EMA Crossover was confirmed on August 3, 2026, further aligning with the sustained high Altra Score and indicating renewed positive momentum in the medium term. While the data paints a very bullish picture, the current lack of 'top-down alignment' implies that investors should monitor for full synchronization across all timeframes, as this can provide even stronger confirmation of a sustained trend.
What is the Altra Score? The Altra Score is AltraOne's proprietary momentum score for individual stocks, ranging from 0 to 100. It measures EMA structure and RSI momentum across multiple timeframes. A score above 60 is Bullish, below 40 is Bearish, and 40–60 is Neutral. The score is updated every trading day after market close based on end-of-day data.
Explore the full Signal History on AltraOne to see every EMA crossover signal across your watchlist — going back 52 weeks. The weekly EMA crossover is AltraOne's highest-conviction intermediate momentum signal; the Signal History page lets you track how these have played out over time.
Altra Score is a momentum indicator reflecting EMA alignment and RSI trend across daily, weekly, and monthly timeframes. It is not investment advice. Past momentum does not guarantee future performance. Please consult a SEBI-registered advisor before making investment decisions.