Hexaware Technologies attempts a bullish reversal!!

Hexaware Technologies attempts a bullish reversal Hexaware Technologies Limited (NSE: HEXT) is showing early signs of a technical recovery after forming a potential double bottom around ₹500–₹503 and breaking above a falling-wedge pattern. Moneycontrol's October 9 technical analysis identified ₹555 and ₹600 as potential upside objectives, with ₹474 as the published stop-loss. 1. What is happening? The stock was quoted at ₹511.40 in the published analysis. The technical setup highlights a double bottom on the momentum indicator, positive divergence and a breakout above the falling trendline. The price was also trading above short-term moving averages, while volume was building above its 20-day average. 2. Why it matters A double bottom with positive momentum divergence can indicate that selling pressure is easing. A breakout above a falling wedge can add further evidence of a possible trend reversal. However, the setup can fail if the stock falls back below the breakout zone or if volume weakens during the recovery. 3. My technical view The ₹500–₹503 zone is the key area to monitor. Holding this region would help preserve the recovery structure. A sustained move higher could bring ₹555 into focus, with ₹600 as a further objective if momentum continues. A fall below ₹474 would invalidate the published setup.