Price Movement and Market Context
On 2 Feb 2026, Hexa Tradex closed at ₹160.70, up from the previous close of ₹158.40. The stock traded within a range of ₹156.50 to ₹160.70 during the day, remaining well below its 52-week high of ₹237.00 but comfortably above the 52-week low of ₹149.75. This price action indicates a tentative recovery attempt, albeit within a constrained range.
Comparatively, the stock’s returns have lagged the broader Sensex over most recent periods. Over the past week, Hexa Tradex declined by 1.41% against the Sensex’s 1.00% fall, showing slightly higher volatility. Over one month, the stock marginally gained 0.06%, outperforming the Sensex’s 4.67% decline. Year-to-date, the stock is down 1.83%, while the Sensex has fallen 5.28%. However, the longer-term picture is mixed: a 20.95% decline over one year contrasts with a 5.16% gain in the Sensex, while over five and ten years, Hexa Tradex has significantly outperformed, delivering returns of 292.43% and 898.14% respectively, compared to Sensex’s 74.40% and 224.57%.
Technical Trend Shift: From Bearish to Mildly Bearish
The technical trend for Hexa Tradex has shifted from a strongly bearish to a mildly bearish stance. This subtle change suggests that while the downtrend is not fully reversed, selling pressure has eased somewhat, opening the door for potential consolidation or a gradual recovery.
Daily moving averages remain bearish, indicating that short-term momentum is still weak. The stock price is likely trading below key moving averages such as the 50-day and 200-day, which traditionally act as resistance levels in a downtrend. This bearish alignment of moving averages suggests caution for traders looking for a sustained uptrend.
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MACD and RSI: Divergent Signals
The Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. On a weekly basis, the MACD is mildly bullish, signalling a potential easing of downward momentum and the possibility of a nascent uptrend. However, the monthly MACD remains bearish, indicating that the longer-term trend has yet to confirm a reversal. This divergence suggests that while short-term momentum may be improving, investors should remain cautious until monthly signals align.
The Relative Strength Index (RSI) further complicates the outlook. The weekly RSI currently offers no clear signal, hovering in a neutral zone that neither indicates overbought nor oversold conditions. Conversely, the monthly RSI is bullish, implying that the stock may be gaining strength over a longer horizon and could be poised for a recovery if other conditions improve.
Bollinger Bands and KST: Bearish Underpinnings Persist
Bollinger Bands on both weekly and monthly charts remain mildly bearish. The stock price is likely near the lower band, suggesting limited downside room but also signalling that volatility remains elevated. This technical setup often precedes a period of consolidation or sideways movement rather than a sharp reversal.
The Know Sure Thing (KST) indicator, a momentum oscillator, is bearish on both weekly and monthly timeframes. This persistent bearishness underscores the prevailing downward pressure and suggests that any rallies may be short-lived unless accompanied by stronger volume and confirmation from other indicators.
Dow Theory and On-Balance Volume (OBV): Mixed and Neutral Signals
According to Dow Theory, the weekly trend is mildly bullish, hinting at a tentative shift in market sentiment. However, the monthly Dow Theory trend shows no clear direction, reflecting uncertainty among longer-term investors.
On-Balance Volume (OBV), which measures buying and selling pressure through volume flow, shows no discernible trend on either weekly or monthly charts. This lack of volume confirmation suggests that recent price movements may not be strongly supported by institutional buying or selling, limiting conviction in the current price action.
Mojo Score and Ratings: Cautious Outlook
Hexa Tradex holds a Mojo Score of 31.0, categorised as a Sell rating. This represents an upgrade from a previous Strong Sell grade assigned on 1 Feb 2026, reflecting a slight improvement in technical and fundamental parameters. The market capitalisation grade stands at 4, indicating a micro-cap status with inherent liquidity and volatility considerations.
Given the mixed technical signals and modest price gains, the current rating suggests that investors should approach Hexa Tradex with caution, favouring a wait-and-watch stance or selective exposure within a diversified portfolio.
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Long-Term Performance and Sector Context
Despite recent volatility and a challenging one-year performance, Hexa Tradex’s long-term returns remain impressive. Over five years, the stock has surged by 292.43%, significantly outpacing the Sensex’s 74.40% gain. Over a decade, the outperformance is even more pronounced, with returns of 898.14% compared to the Sensex’s 224.57%. This track record highlights the company’s potential for wealth creation over extended periods, albeit with intermittent periods of correction and consolidation.
Within the NBFC sector, Hexa Tradex operates in a competitive and highly regulated environment. Sectoral headwinds such as credit risk concerns, interest rate fluctuations, and regulatory changes continue to influence investor sentiment. The current technical signals reflect these broader challenges, with the stock’s momentum mirroring sectoral caution.
Investor Takeaway
Hexa Tradex Ltd’s recent technical parameter changes indicate a tentative easing of bearish momentum but fall short of signalling a definitive uptrend. Mixed signals from MACD, RSI, Bollinger Bands, and KST suggest that while short-term price action may stabilise, longer-term trends remain under pressure. The upgrade from Strong Sell to Sell rating reflects this cautious optimism but advises prudence.
Investors should monitor key technical levels, particularly moving averages and monthly MACD, for confirmation of trend reversal. Volume trends and sector developments will also be critical in shaping the stock’s trajectory. For those seeking exposure to the NBFC space, a balanced approach incorporating risk management and diversification is advisable.
Conclusion
Hexa Tradex Ltd’s technical momentum shift from strongly bearish to mildly bearish, combined with mixed indicator signals, paints a picture of a stock at a crossroads. While short-term indicators hint at stabilisation, the absence of strong volume support and persistent bearish momentum on longer timeframes counsel caution. The stock’s long-term outperformance remains a positive backdrop, but near-term investors should weigh the risks carefully and consider alternative opportunities within the sector.
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