Exicom Tele-Systems Ltd Sees Mixed Technical Signals Amid Price Momentum Shift

Price Momentum and Recent Market Performance

Exicom Tele-Systems Ltd closed at ₹101.90 on 10 Feb 2026, marking a 3.91% increase from the previous close of ₹98.07. The stock traded within a range of ₹98.11 to ₹103.00 during the day, showing intraday volatility but a positive price momentum overall. However, this price remains significantly below its 52-week high of ₹216.95, underscoring the steep decline the stock has endured over the past year.

Examining returns relative to the benchmark Sensex reveals a mixed picture. Over the past week, Exicom outperformed the Sensex with a 7.09% gain compared to the index’s 2.94%. Yet, over longer horizons, the stock has lagged considerably. Year-to-date, it has declined by 13.28%, while the Sensex has fallen only 1.36%. Over the last year, Exicom’s return plummeted by 49.05%, contrasting sharply with the Sensex’s 7.97% gain. This divergence highlights the stock’s underperformance amid broader market resilience.

Technical Trend Shift: From Bearish to Mildly Bearish

The technical trend for Exicom has shifted from a clear bearish stance to a mildly bearish one, indicating some easing of downward pressure but no definitive reversal yet. This nuanced change is reflected across multiple technical indicators, which present a mixed but cautiously optimistic outlook.

The Moving Average Convergence Divergence (MACD) indicator offers a mildly bullish signal on the weekly chart, suggesting some positive momentum building in the short term. However, the monthly MACD remains inconclusive, indicating that longer-term momentum has yet to confirm a sustained uptrend.

The Relative Strength Index (RSI) further complicates the picture. While the weekly RSI does not currently signal a clear trend, the monthly RSI is bullish, implying that the stock may be gaining strength over a longer timeframe. This divergence between weekly and monthly RSI readings suggests that short-term volatility is masking underlying strength.

Bollinger Bands and Moving Averages Indicate Caution

Bollinger Bands on both weekly and monthly charts signal a mildly bearish stance, reflecting that the stock price is trading near the lower band, which often indicates oversold conditions but also persistent downward pressure. This suggests that while the stock may be undervalued in the short term, the risk of further declines remains.

Daily moving averages reinforce this cautious outlook, remaining bearish. The stock price is trading below key moving averages, indicating that the short-term trend is still downward. This is a critical factor for traders relying on moving averages as dynamic support and resistance levels.

Additional Technical Indicators: KST, Dow Theory, and OBV

The Know Sure Thing (KST) indicator on the weekly chart remains bearish, signalling that momentum is still skewed towards the downside in the near term. The monthly KST reading is unavailable, leaving some uncertainty about longer-term momentum.

Dow Theory analysis presents a mixed view: no clear trend on the weekly chart but a bearish trend on the monthly timeframe. This suggests that while short-term price action is indecisive, the broader market sentiment for Exicom remains negative.

On-Balance Volume (OBV) indicators show no discernible trend on either weekly or monthly charts, indicating that volume flow is not currently confirming price movements. This lack of volume confirmation adds to the uncertainty surrounding the stock’s near-term direction.

Mojo Score and Market Capitalisation Insights

Exicom Tele-Systems Ltd holds a Mojo Score of 9.0, which corresponds to a Strong Sell rating. This is a downgrade from its previous Sell grade as of 26 May 2025, reflecting deteriorating technical and fundamental conditions. The company’s market capitalisation grade stands at 3, indicating a relatively modest market cap within its sector.

These ratings, provided by MarketsMOJO, underscore the cautious stance investors should adopt. The Strong Sell grade is consistent with the technical indicators signalling persistent bearishness despite some short-term bullish hints.

Comparative Sector and Market Context

Within the Heavy Electrical Equipment sector, Exicom’s technical and fundamental challenges stand out. The sector itself has seen mixed performance, with some companies benefiting from infrastructure spending and renewable energy trends, while others face headwinds from supply chain disruptions and rising input costs.

Exicom’s underperformance relative to the Sensex and its peers suggests that investors are pricing in significant risks. The stock’s 52-week low of ₹93.18 and its current price near ₹101.90 indicate limited upside potential without a clear catalyst to reverse the bearish trend.

Investor Takeaway and Outlook

For investors, the technical signals from Exicom Tele-Systems Ltd advise caution. While weekly MACD and monthly RSI hint at emerging strength, the prevailing mildly bearish trend, bearish moving averages, and lack of volume confirmation suggest that a sustained recovery is not yet assured.

Given the Strong Sell Mojo Grade and the stock’s significant underperformance over the past year, investors should carefully weigh the risks before initiating or increasing positions. Monitoring key technical levels, such as the 50-day and 200-day moving averages, alongside volume trends, will be critical to identifying any meaningful trend reversals.

In summary, Exicom Tele-Systems Ltd is navigating a complex technical landscape with mixed momentum signals. While short-term price gains offer some optimism, the broader technical and fundamental backdrop remains challenging, warranting a prudent and measured investment approach.

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