Hexa Tradex Ltd Technical Momentum Shifts Amid Bearish Sentiment

Technical Trend Overview

Recent analysis reveals that Hexa Tradex's overall technical trend has transitioned from outright bearish to mildly bearish. This nuanced change reflects a tentative improvement in price momentum, yet it remains insufficient to signal a definitive bullish reversal. The stock closed at ₹160.94 on 27 Jan 2026, down marginally by 0.46% from the previous close of ₹161.69. The intraday range fluctuated between ₹158.75 and ₹162.99, indicating moderate volatility within a narrow band.

MACD and RSI Signals

The Moving Average Convergence Divergence (MACD) indicator presents a mixed picture. On a weekly basis, the MACD is mildly bullish, suggesting that short-term momentum may be improving. However, the monthly MACD remains bearish, indicating that the longer-term trend has yet to confirm a sustained uptrend. This divergence between weekly and monthly MACD readings underscores the stock’s current technical uncertainty.

Relative Strength Index (RSI) readings further complicate the outlook. The weekly RSI does not provide a clear signal, hovering in a neutral zone that neither indicates overbought nor oversold conditions. Conversely, the monthly RSI is bullish, hinting at potential strength building over a longer horizon. This disparity suggests that while short-term momentum is indecisive, the stock may be accumulating strength for a possible recovery in the medium term.

Moving Averages and Bollinger Bands

Daily moving averages continue to exert bearish pressure on Hexa Tradex’s price action. The stock remains below key moving averages, which typically act as resistance levels in a downtrend. This bearish alignment of moving averages signals that the stock is struggling to gain upward traction in the short term.

Bollinger Bands, which measure volatility and potential price extremes, are bearish on both weekly and monthly charts. The stock price is trading near the lower band, indicating persistent downward pressure and heightened risk of further declines. This technical setup suggests that volatility remains skewed towards the downside, limiting upside potential in the near term.

Additional Technical Indicators

The Know Sure Thing (KST) indicator, a momentum oscillator, is bearish on both weekly and monthly timeframes, reinforcing the prevailing negative sentiment. Dow Theory assessments align with this view, showing a mildly bearish trend on the weekly chart and no clear trend on the monthly chart. Meanwhile, On-Balance Volume (OBV) readings show no discernible trend on either timeframe, implying that volume flows are not currently supporting a strong directional move.

Price Performance Relative to Sensex

Hexa Tradex’s price performance over various timeframes reveals a mixed trajectory when compared with the broader Sensex index. Over the past week, the stock declined by 1.32%, outperforming the Sensex’s sharper fall of 2.51%. Similarly, in the last month, Hexa Tradex fell 0.92%, significantly less than the Sensex’s 4.31% drop. Year-to-date, the stock is down 1.26%, while the Sensex has declined 4.14%, indicating relative resilience in the short term.

However, the longer-term picture is less encouraging. Over the past year, Hexa Tradex has suffered a steep 29.90% decline, contrasting with the Sensex’s 7.94% gain. This underperformance highlights sector-specific or company-specific challenges that have weighed on the stock. Over three years, the stock has managed a modest 2.05% gain, lagging the Sensex’s robust 38.25% advance. Yet, over five and ten years, Hexa Tradex has delivered exceptional returns of 269.13% and 881.34% respectively, far outpacing the Sensex’s 74.29% and 237.47% gains. This long-term outperformance underscores the company’s historical growth potential despite recent setbacks.

Market Capitalisation and Mojo Ratings

Hexa Tradex holds a market capitalisation grade of 4, reflecting its mid-cap status within the NBFC sector. The company’s Mojo Score currently stands at 26.0, with a Mojo Grade of Strong Sell as of 21 Jan 2026, an upgrade from the previous Sell rating. This downgrade in sentiment is indicative of deteriorating technical and fundamental conditions, signalling caution for investors. The Strong Sell grade is driven by weak technical indicators and recent price underperformance, despite some signs of mild momentum improvement.

Investment Implications

Investors should approach Hexa Tradex with prudence given the prevailing technical signals. While weekly MACD and monthly RSI hint at potential momentum building, the dominant bearish signals from moving averages, Bollinger Bands, and KST suggest that the stock remains under pressure. The lack of volume confirmation via OBV further weakens the case for a sustained rally at this stage.

Given the stock’s proximity to its 52-week low of ₹155.00 and significant gap from its 52-week high of ₹241.56, Hexa Tradex is navigating a challenging technical landscape. Short-term traders may find limited opportunities until clearer bullish signals emerge, while long-term investors should weigh the company’s historical outperformance against recent volatility and sector headwinds.

Sector Context and Outlook

The NBFC sector has faced considerable volatility amid tightening credit conditions and regulatory scrutiny. Hexa Tradex’s technical challenges mirror broader sectoral pressures, including rising non-performing assets and cautious investor sentiment. However, the company’s long-term track record of robust returns suggests that it remains a key player with potential for recovery once macroeconomic conditions stabilise.

Market participants should monitor key technical indicators closely, particularly the monthly MACD and RSI, for signs of a sustained bullish reversal. Additionally, a break above daily moving averages and a contraction of Bollinger Bands towards the middle band could signal a shift in momentum. Until then, the stock’s mildly bearish technical trend advises a cautious stance.

Conclusion

Hexa Tradex Ltd’s recent technical parameter changes reflect a complex interplay of mild momentum improvement amid persistent bearish pressures. While some indicators suggest the possibility of a nascent recovery, the overall technical landscape remains cautious. Investors should balance the company’s long-term growth credentials against short-term technical risks and sectoral headwinds before making investment decisions.

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