Hexaware Technologies Ltd Sees Shift to Mildly Bullish Momentum Amid Mixed Technical Signals

Technical Trend Overview and Price Movement

On 19 Jan 2026, Hexaware Technologies Ltd (stock code 316432) closed at ₹738.85, marking a significant day change of +3.68% from the previous close of ₹712.60. The stock traded within a range of ₹710.00 to ₹744.90 during the session, inching closer to its 52-week high of ₹900.15, while comfortably above its 52-week low of ₹592.95. This price action reflects renewed buying interest, supported by a shift in technical momentum from mildly bearish to mildly bullish.

The daily moving averages currently indicate a mildly bearish trend, suggesting some short-term caution among traders. However, weekly and monthly indicators paint a more optimistic picture, signalling a potential medium-term recovery in price momentum.

MACD Signals: Divergent Weekly and Monthly Perspectives

The Moving Average Convergence Divergence (MACD) indicator offers a mixed but encouraging outlook. On a weekly basis, the MACD is bullish, indicating that the short-term momentum is gaining strength relative to the longer-term trend. This bullish weekly MACD supports the recent price uptick and suggests that buyers are regaining control.

Conversely, the monthly MACD remains mildly bearish, implying that the longer-term momentum has yet to fully confirm a sustained uptrend. This divergence between weekly and monthly MACD readings highlights a transitional phase where short-term optimism is building, but longer-term caution persists.

RSI and Bollinger Bands: Neutral to Mildly Bullish Signals

The Relative Strength Index (RSI) on both weekly and monthly charts currently shows no definitive signal, hovering in neutral territory. This suggests that the stock is neither overbought nor oversold, providing room for further price movement without immediate risk of reversal due to extreme momentum.

Bollinger Bands, however, offer a more positive indication. Weekly Bollinger Bands are bullish, reflecting price strength and volatility expansion to the upside. Monthly Bollinger Bands are mildly bullish, signalling a gradual increase in upward price pressure over the longer term. These signals collectively suggest that Hexaware’s price could continue to trend higher, supported by expanding volatility and momentum.

Moving Averages and KST: Contrasting Signals

Daily moving averages remain mildly bearish, indicating that short-term price averages are still trending lower relative to recent price levels. This suggests some hesitation among intraday and short-term traders, possibly due to profit-taking or consolidation after recent gains.

In contrast, the Know Sure Thing (KST) indicator is bullish on both weekly and monthly timeframes. The KST’s positive readings reinforce the notion of strengthening momentum over medium and longer terms, signalling that Hexaware’s price trend is likely to sustain its upward trajectory beyond short-term fluctuations.

Volume and Dow Theory: Mixed Interpretations

On-Balance Volume (OBV) presents a mildly bearish signal on the weekly chart, indicating that volume flow may not be fully supporting the recent price advances. This could imply that the rally is not yet backed by strong accumulation, warranting caution for momentum traders.

Dow Theory analysis shows no clear trend on the weekly scale but registers a mildly bullish stance monthly. This suggests that while short-term price movements remain uncertain, the broader market perception of Hexaware is improving, aligning with the gradual technical shift towards bullishness.

Comparative Returns and Market Context

Hexaware’s recent returns have been mixed relative to the Sensex benchmark. Over the past week, the stock outperformed the Sensex with a 0.91% gain versus a marginal -0.01% decline in the index. However, over the last month and year-to-date periods, Hexaware underperformed, declining by 2.86% and 3.37% respectively, compared to Sensex losses of 1.31% and 1.94%.

Longer-term returns show a more favourable picture, with a five-year gain of 56.95% compared to the Sensex’s 70.43%, and a ten-year return of 233.42% versus the Sensex’s 241.73%. These figures highlight Hexaware’s solid historical performance within the Computers - Software & Consulting sector, despite recent short-term volatility.

Mojo Score and Analyst Ratings

MarketsMOJO assigns Hexaware Technologies a Mojo Score of 57.0, reflecting a Hold rating, downgraded from a previous Buy on 12 Jan 2026. The downgrade reflects the recent technical shifts and mixed signals from key indicators, suggesting investors should exercise caution and monitor developments closely. The company’s Market Cap Grade stands at 2, indicating a mid-tier market capitalisation relative to peers.

Outlook and Investor Considerations

The technical landscape for Hexaware Technologies Ltd is currently characterised by a transition from mild bearishness to mild bullishness, supported by weekly MACD and KST bullish signals, alongside positive Bollinger Bands readings. However, the presence of mildly bearish daily moving averages and weekly OBV signals advises prudence.

Investors should weigh these mixed signals carefully, considering Hexaware’s relative underperformance in recent months against its strong long-term track record. The stock’s proximity to its 52-week high suggests potential upside, but the lack of strong volume confirmation and neutral RSI readings imply that momentum may not yet be fully established.

Conclusion: A Cautious Optimism Prevails

Hexaware Technologies Ltd’s technical indicators collectively suggest a cautiously optimistic outlook. The shift to a mildly bullish trend, supported by weekly momentum indicators, offers potential for further gains. However, the mixed signals from daily moving averages and volume-based indicators counsel vigilance.

Investors should monitor upcoming price action and volume trends closely, alongside broader market conditions and sector performance, before committing to new positions. The current Hold rating by MarketsMOJO reflects this balanced view, recommending a wait-and-watch approach until clearer confirmation of sustained momentum emerges.

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