Bharti Hexacom Ltd Faces Bearish Momentum Amid Technical Downturn

Technical Trend Shift and Price Movement

Bharti Hexacom’s share price closed at ₹1,537.00 on 29 Jan 2026, down 2.33% from the previous close of ₹1,573.60. The intraday range saw a high of ₹1,600.00 and a low of ₹1,523.20, reflecting heightened volatility. Over the past week, the stock has declined by 6.56%, significantly underperforming the Sensex’s modest 0.53% gain during the same period. The one-month and year-to-date returns are also deeply negative at -15.89% and -15.59% respectively, compared to Sensex returns of -3.17% and -3.37%. This divergence highlights a weakening investor sentiment towards Bharti Hexacom amid broader market resilience.

MACD and Momentum Indicators Confirm Bearish Bias

The Moving Average Convergence Divergence (MACD) indicator on the weekly chart remains firmly bearish, signalling sustained downward momentum. Although the monthly MACD reading is not explicitly bearish, the absence of a positive crossover suggests limited upside potential in the medium term. The stock’s Relative Strength Index (RSI) currently shows no clear signal on both weekly and monthly charts, indicating neither oversold nor overbought conditions, but the lack of bullish divergence reinforces the cautious stance.

Bollinger Bands and Moving Averages Reinforce Downtrend

Bollinger Bands on both weekly and monthly timeframes are bearish, with the price trending near the lower band, suggesting persistent selling pressure. The daily moving averages also confirm a bearish trend, with the stock trading below key averages such as the 50-day and 200-day moving averages. This alignment of multiple moving average indicators underscores the stock’s vulnerability to further declines unless a significant reversal catalyst emerges.

KST and Dow Theory Signals

The Know Sure Thing (KST) oscillator on the weekly chart is bearish, reinforcing the negative momentum. Dow Theory assessments on weekly and monthly scales classify the trend as mildly bearish, indicating that while the downtrend is evident, it is not yet at an extreme level. This mild bearishness suggests that investors should remain cautious but watch for potential stabilisation signals.

On-Balance Volume (OBV) Divergence

Interestingly, the OBV indicator presents a mixed picture. While the weekly OBV is mildly bearish, reflecting recent selling volume, the monthly OBV is bullish. This divergence may indicate accumulation by long-term investors despite short-term selling pressure, hinting at a possible base formation over the coming months. However, until price momentum aligns with volume trends, the bearish technical outlook remains dominant.

Comparative Performance and Market Capitalisation

Bharti Hexacom’s market capitalisation grade stands at 2, reflecting its mid-cap status within the Telecom - Services sector. The company’s Mojo Score has deteriorated to 43.0, with a corresponding Mojo Grade downgraded from Hold to Sell as of 23 Jan 2026. This downgrade reflects the technical deterioration and weaker price momentum relative to peers and the broader market.

Over the longer term, Bharti Hexacom has delivered a 1-year return of 18.41%, outperforming the Sensex’s 8.49% gain. However, the stock’s recent underperformance and technical weakness suggest that this positive trend may be under threat in the near term. The 52-week high of ₹2,051.00 and low of ₹1,225.00 illustrate a wide trading range, with the current price closer to the lower end, signalling potential downside risk if support levels fail to hold.

Sector Context and Outlook

The Telecom - Services sector has faced headwinds from regulatory pressures and competitive intensity, which have weighed on earnings growth and investor confidence. Bharti Hexacom’s technical signals mirror these challenges, with bearish momentum indicators suggesting that the stock may continue to lag sector peers unless operational or strategic improvements materialise.

Investor Implications and Strategy

Given the current technical landscape, investors should exercise caution with Bharti Hexacom. The bearish alignment of MACD, Bollinger Bands, and moving averages indicates a high probability of continued downward pressure. The absence of strong RSI signals means there is no immediate indication of a rebound, while the mixed OBV readings warrant close monitoring for signs of accumulation or capitulation.

Traders may consider reducing exposure or employing hedging strategies until clearer technical support emerges. Long-term investors should watch for a sustained reversal in weekly and monthly momentum indicators before increasing positions. The downgrade to a Sell rating by MarketsMOJO underscores the need for prudence in portfolio allocation.

Conclusion: Technicals Signal Caution Amid Bearish Momentum

Bharti Hexacom Ltd’s technical indicators collectively point to a bearish momentum shift, with multiple signals confirming a downtrend across daily, weekly, and monthly timeframes. The stock’s underperformance relative to the Sensex and sector peers, combined with a downgrade in Mojo Grade to Sell, suggests that investors should approach with caution.

While the monthly OBV hints at some long-term accumulation, the prevailing technical environment does not yet support a confident bullish stance. Investors and traders alike should monitor key support levels and momentum indicators closely, awaiting signs of a sustained reversal before committing additional capital.

In the current market context, Bharti Hexacom’s technical deterioration underscores the importance of disciplined risk management and the consideration of alternative investment opportunities within the Telecom - Services sector and beyond.

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