Hexa Tradex Ltd Technical Momentum Shifts Amid Mixed Indicator Signals

Technical Trend Overview and Price Momentum

As of 19 Jan 2026, Hexa Tradex’s share price closed at ₹167.95, marking a modest gain of 1.24% from the previous close of ₹165.90. The stock touched an intraday high of ₹167.95, with no recorded intraday low variation, indicating a stable upward move during the session. This price action is notable given the stock’s 52-week range of ₹149.75 to ₹242.00, suggesting it remains well below its annual peak but above its yearly low.

The technical trend has shifted from a clearly bearish posture to a mildly bearish one, signalling a tentative improvement in price momentum. This subtle change is reflected in the daily moving averages, which remain mildly bearish but show signs of stabilisation rather than further deterioration. The stock’s recent weekly return of 2.66% outpaces the Sensex’s negligible decline of 0.01%, while the one-month return of 1.60% contrasts favourably against the Sensex’s 1.31% drop. Year-to-date, Hexa Tradex has gained 2.60%, whereas the Sensex has declined by 1.94%, highlighting relative outperformance in the short term despite longer-term challenges.

MACD and RSI: Divergent Signals Across Timeframes

The Moving Average Convergence Divergence (MACD) indicator presents a nuanced view. On a weekly basis, the MACD is mildly bullish, suggesting that momentum may be building in the medium term. However, the monthly MACD remains bearish, indicating that the longer-term trend has yet to confirm a sustained recovery. This divergence between weekly and monthly MACD readings underscores the stock’s current transitional phase.

Relative Strength Index (RSI) readings further complicate the picture. The weekly RSI does not currently generate a clear signal, hovering in a neutral zone that neither indicates overbought nor oversold conditions. Conversely, the monthly RSI is bullish, implying that the stock has gained strength over the longer term and may be poised for further upward movement if momentum continues.

Bollinger Bands and Moving Averages: Signs of Caution

Bollinger Bands on both weekly and monthly charts remain mildly bearish, signalling that price volatility is still skewed towards the downside. This suggests that while the stock is attempting to stabilise, it faces resistance levels that could limit near-term gains. Daily moving averages reinforce this cautious stance, remaining mildly bearish and indicating that the stock has yet to decisively break above key support and resistance levels.

Additional Technical Indicators: KST, Dow Theory, and OBV

The Know Sure Thing (KST) oscillator remains bearish on both weekly and monthly timeframes, signalling that momentum is still under pressure despite recent gains. Dow Theory analysis offers a slightly more optimistic view, with a mildly bullish weekly trend but no clear monthly trend, reflecting uncertainty in the broader market context.

On-Balance Volume (OBV) readings are mildly bearish across weekly and monthly charts, indicating that volume trends do not yet support a strong price rally. This volume weakness suggests that investor conviction remains tentative, and any upward price moves may lack robust backing from market participants.

Long-Term Performance and Market Capitalisation Context

Hexa Tradex’s market capitalisation grade stands at 4, reflecting its mid-cap status within the NBFC sector. The company’s Mojo Score is 31.0, with a current Mojo Grade of Sell, upgraded from a Strong Sell on 16 Jan 2026. This upgrade indicates a slight improvement in the company’s technical and fundamental outlook, though caution remains warranted.

Examining returns over various periods reveals a mixed but generally positive long-term performance. While the stock has declined by 26.58% over the past year, it has delivered impressive gains over longer horizons, including 8.85% over three years, 241.36% over five years, and a remarkable 896.74% over ten years. These figures compare favourably to the Sensex, which returned 8.47% over one year, 39.07% over three years, 70.43% over five years, and 241.73% over ten years. The disparity highlights Hexa Tradex’s potential for substantial long-term wealth creation despite recent volatility.

Investor Implications and Outlook

The current technical landscape for Hexa Tradex suggests a stock in transition. The mild improvement in trend from bearish to mildly bearish, combined with mixed signals from MACD, RSI, and other indicators, points to a cautious optimism among investors. However, the persistent bearishness in volume-based indicators and moving averages signals that the stock has not yet fully shaken off downward pressures.

Investors should weigh these technical signals alongside fundamental factors and sector dynamics. The NBFC sector continues to face regulatory and macroeconomic headwinds, which may impact Hexa Tradex’s near-term performance. Nonetheless, the stock’s relative outperformance against the Sensex in recent weeks and months, coupled with its long-term track record, may attract investors seeking selective exposure to mid-cap NBFCs with improving momentum.

Summary and Strategic Considerations

In summary, Hexa Tradex Ltd’s technical indicators reveal a stock at a crossroads. The shift from bearish to mildly bearish trend and the weekly MACD’s mild bullishness offer glimmers of hope for a sustained recovery. However, the monthly MACD’s bearish stance, alongside bearish KST and OBV readings, counsel prudence. The mixed RSI signals and Bollinger Bands’ mild bearishness further underscore the need for careful monitoring.

For investors, this means that while Hexa Tradex may be building momentum, it remains vulnerable to sector-specific risks and broader market volatility. Those with a higher risk tolerance might view the current technical setup as an opportunity to accumulate shares ahead of a potential rebound. Conversely, more conservative investors may prefer to await clearer confirmation of trend reversal before increasing exposure.

Ultimately, Hexa Tradex’s performance relative to the Sensex and its long-term return profile suggest that it remains a stock worth watching within the NBFC space. The recent upgrade from Strong Sell to Sell by MarketsMOJO reflects this nuanced outlook, balancing cautious optimism with recognition of ongoing challenges.

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