Bharti Hexacom Ltd Technical Momentum Shifts Amid Bearish Sentiment

Technical Trend and Momentum Analysis

Bharti Hexacom’s technical trend has shifted from a clear bearish stance to a mildly bearish one, reflecting a subtle easing in downward pressure but no definitive reversal. The stock closed at ₹1,580.15 on 3 Feb 2026, down 1.23% from the previous close of ₹1,599.85. Intraday volatility saw a high of ₹1,596.95 and a low of ₹1,550.00, indicating some price consolidation near the lower end of its recent range.

The 52-week price range remains wide, with a high of ₹2,051.00 and a low of ₹1,225.00, underscoring significant price swings over the past year. This volatility is mirrored in the technical indicators, which present a mixed but cautious outlook.

MACD and RSI Signals

The Moving Average Convergence Divergence (MACD) indicator remains bearish on the weekly timeframe, signalling that the stock’s momentum is still tilted towards the downside. The monthly MACD does not provide a clear signal, suggesting a lack of strong directional conviction over the longer term. This divergence between weekly and monthly MACD readings highlights the stock’s current indecisiveness.

Relative Strength Index (RSI) readings on both weekly and monthly charts show no clear signal, hovering in neutral zones. This absence of overbought or oversold conditions implies that Bharti Hexacom is neither strongly favoured nor heavily discounted by momentum traders at present, reinforcing the notion of a sideways or mildly bearish phase.

Moving Averages and Bollinger Bands

Daily moving averages continue to reflect a bearish trend, with the stock price trading below key averages such as the 50-day and 200-day moving averages. This positioning typically indicates sustained selling pressure and a lack of short-term bullish momentum.

Bollinger Bands on the weekly chart suggest a mildly bearish stance, with the price gravitating towards the lower band but not decisively breaking below it. On the monthly scale, Bollinger Bands indicate a sideways movement, reinforcing the view that the stock is in a consolidation phase rather than a clear downtrend or uptrend.

Additional Technical Indicators

The Know Sure Thing (KST) indicator remains bearish on the weekly timeframe, further confirming the short-term negative momentum. However, monthly KST data is inconclusive, aligning with other monthly indicators that suggest a lack of strong directional bias.

Dow Theory analysis on both weekly and monthly charts shows no definitive trend, indicating that the stock has not established a clear primary or secondary trend in recent periods. Similarly, On-Balance Volume (OBV) readings show no trend, suggesting that volume flows are not strongly supporting either buying or selling pressure.

Performance Relative to Sensex

Bharti Hexacom’s recent returns have underperformed the broader Sensex index across multiple timeframes. Over the past week, the stock declined by 2.13%, while the Sensex gained 0.16%. The one-month return for Bharti Hexacom was a steep -12.21%, compared to the Sensex’s -4.78%. Year-to-date, the stock has fallen 13.22%, significantly lagging the Sensex’s 4.17% decline.

Despite these short-term setbacks, the stock has delivered a robust 16.36% return over the past year, outperforming the Sensex’s 5.37% gain. This suggests that while recent momentum has weakened, the company has demonstrated resilience and growth potential over a longer horizon.

Mojo Score and Grade Revision

MarketsMOJO’s proprietary Mojo Score for Bharti Hexacom currently stands at 48.0, reflecting a cautious stance on the stock’s outlook. The Mojo Grade was downgraded from Hold to Sell on 23 Jan 2026, signalling a deterioration in the stock’s technical and fundamental outlook. The Market Cap Grade remains low at 2, indicating limited market capitalisation strength relative to peers.

This downgrade aligns with the technical indicators’ bearish signals and the recent price underperformance, suggesting that investors should exercise prudence and closely monitor further developments before committing fresh capital.

Sector and Industry Context

Operating within the Telecom - Services sector, Bharti Hexacom faces competitive pressures and regulatory challenges that have influenced its recent performance. The sector itself has experienced mixed momentum, with some peers showing stronger technical and fundamental metrics. This context emphasises the importance of comparative analysis when considering investment decisions in this space.

Outlook and Investor Considerations

Given the current mildly bearish technical trend and the absence of strong momentum signals from key indicators such as RSI and MACD on monthly charts, Bharti Hexacom appears to be in a consolidation phase. The stock’s failure to sustain levels above its moving averages and the bearish weekly MACD suggest that any recovery may be tentative and subject to broader market conditions.

Investors should weigh the stock’s longer-term outperformance against the Sensex against its recent weakness and technical downgrades. A cautious approach with close attention to volume trends and confirmation of trend reversals is advisable before considering new positions.

Summary

Bharti Hexacom Ltd’s recent technical parameter changes highlight a shift towards a mildly bearish momentum, with key indicators such as MACD and moving averages signalling caution. While the stock has demonstrated strong annual returns outperforming the Sensex, short-term price action and technical downgrades suggest investors should remain vigilant.

The absence of clear RSI signals and the sideways movement on monthly Bollinger Bands indicate a consolidation phase, with no immediate signs of a strong trend reversal. The downgrade in Mojo Grade to Sell reflects these technical challenges and the need for careful risk management.

In the context of the Telecom - Services sector, Bharti Hexacom’s performance and technical outlook warrant a measured approach, with investors advised to monitor momentum indicators closely and consider alternative opportunities within the sector and broader market.

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