Technical Trend Shift and Price Movement
Hexaware Technologies Ltd (NSE: HEXAWARE), currently priced at ₹739.45, has demonstrated a subtle but noteworthy change in its technical trend. The stock’s price edged up marginally from the previous close of ₹737.90, with intraday highs reaching ₹744.90 and lows of ₹732.55. This movement reflects a mild bullish momentum after a period of sideways consolidation.
The 52-week price range remains broad, with a high of ₹900.15 and a low of ₹592.95, indicating significant volatility over the past year. The current price sits approximately 17.8% below the 52-week high, suggesting room for potential upside if bullish momentum sustains.
MACD and Momentum Oscillators
The Moving Average Convergence Divergence (MACD) indicator presents a nuanced picture. On a weekly basis, the MACD is bullish, signalling positive momentum and potential for further price appreciation. However, the monthly MACD remains mildly bearish, indicating that longer-term momentum has yet to fully confirm a sustained uptrend.
Complementing this, the Know Sure Thing (KST) oscillator is bullish on both weekly and monthly charts, reinforcing the short- to medium-term momentum shift. This suggests that while the stock may face some resistance in the longer term, the immediate outlook is positive.
Relative Strength Index and Bollinger Bands
The Relative Strength Index (RSI) on both weekly and monthly timeframes currently shows no definitive signal, hovering in neutral territory. This implies that the stock is neither overbought nor oversold, providing a balanced backdrop for potential price moves without extreme volatility.
Bollinger Bands, which measure volatility and price levels relative to moving averages, are mildly bullish on both weekly and monthly charts. This indicates that price volatility is increasing slightly with a positive bias, often a precursor to a breakout or sustained trend.
Moving Averages and Volume Analysis
Daily moving averages, however, present a mildly bearish signal, suggesting some short-term caution. This divergence between daily and weekly/monthly indicators highlights the importance of monitoring intraday price action closely.
On-Balance Volume (OBV) analysis shows a mildly bullish trend on the weekly chart, indicating that volume is supporting the recent price gains. The monthly OBV, however, remains neutral, reflecting a lack of strong conviction among longer-term investors.
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Dow Theory and Trend Confirmation
According to Dow Theory, both weekly and monthly charts show no clear trend, indicating that the stock has not yet established a definitive directional movement over these periods. This lack of trend confirmation suggests that investors should remain vigilant and watch for further technical developments before committing to a strong directional bias.
Mojo Score Upgrade and Market Capitalisation
Hexaware Technologies Ltd’s Mojo Score has improved to 72.0, reflecting a Buy rating, upgraded from a previous Hold as of 6 January 2026. This upgrade signals increased confidence in the stock’s technical and fundamental outlook. The company holds a Market Cap Grade of 2, indicating a mid-tier market capitalisation within its sector.
Comparative Returns and Sector Context
Examining Hexaware’s returns relative to the Sensex reveals a mixed performance. Over the past week, the stock declined by 3.0%, contrasting with the Sensex’s modest gain of 0.46%. Similarly, the one-month return for Hexaware was -2.03%, while the Sensex fell by 0.76%. Year-to-date, Hexaware’s return stands at -3.29%, slightly underperforming the Sensex’s -0.18%.
Longer-term returns show a more favourable picture, with a five-year return of 57.08% compared to the Sensex’s 76.57%, and a ten-year return of 203.55% against the Sensex’s 234.81%. These figures highlight that while recent momentum has been subdued, Hexaware has delivered substantial value over extended periods.
Investment Implications and Outlook
The current technical landscape for Hexaware Technologies Ltd suggests a cautiously optimistic outlook. The weekly bullish MACD and KST indicators, combined with mildly bullish Bollinger Bands and OBV, point to emerging positive momentum. However, the mildly bearish daily moving averages and neutral RSI readings counsel prudence in the short term.
Investors should monitor the stock’s ability to break above key resistance levels near ₹745 and watch for confirmation from monthly MACD and Dow Theory signals to validate a sustained uptrend. Given the recent Mojo Score upgrade to Buy, Hexaware appears well-positioned to benefit from sector tailwinds in Computers - Software & Consulting, provided technical momentum continues to improve.
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Sector and Industry Positioning
Operating within the Computers - Software & Consulting sector, Hexaware Technologies Ltd competes in a dynamic and rapidly evolving industry. The sector’s growth prospects remain robust, driven by increasing digital transformation initiatives and demand for IT services globally. Hexaware’s technical upgrade and improving momentum may position it favourably to capitalise on these trends.
However, investors should remain mindful of broader market volatility and sector-specific risks, including competitive pressures and technological disruptions. The mixed technical signals underscore the importance of a balanced approach, combining technical analysis with fundamental insights.
Conclusion
Hexaware Technologies Ltd’s recent shift from a sideways to a mildly bullish technical trend, supported by weekly MACD and KST indicators, signals a potential positive inflection point. While some indicators such as daily moving averages and monthly MACD remain cautious, the overall technical profile and Mojo Score upgrade to Buy suggest growing investor confidence.
For investors seeking exposure to the Computers - Software & Consulting sector, Hexaware presents an intriguing opportunity, particularly if the stock can sustain momentum and break through near-term resistance levels. Continued monitoring of technical indicators alongside fundamental developments will be essential to gauge the stock’s trajectory in the coming months.
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