Hexa Tradex Ltd Technical Momentum Shifts Amid Mixed Indicator Signals

Current Price and Market Context

As of 5 Feb 2026, Hexa Tradex Ltd closed at ₹158.30, up from the previous close of ₹155.22. The stock traded within a range of ₹156.00 to ₹159.50 during the day, remaining well below its 52-week high of ₹241.56 but above the 52-week low of ₹147.26. The company’s market cap grade stands at 4, reflecting a moderate market capitalisation relative to its peers in the NBFC sector.

Technical Trend Overview

The technical trend for Hexa Tradex has shifted from bearish to mildly bearish, signalling a tentative improvement but still reflecting caution. The daily moving averages remain bearish, indicating that short-term price momentum is yet to fully recover. Meanwhile, the weekly and monthly indicators offer a more nuanced view.

MACD Analysis

The Moving Average Convergence Divergence (MACD) indicator shows a mildly bullish signal on the weekly chart, suggesting some upward momentum building over the near term. However, the monthly MACD remains bearish, implying that the longer-term trend has not yet reversed. This divergence between weekly and monthly MACD readings highlights the stock’s current transitional phase, where short-term optimism is tempered by longer-term caution.

RSI and Momentum Indicators

The Relative Strength Index (RSI) presents a mixed scenario. On the weekly timeframe, the 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, suggesting that the stock may be gaining strength over a longer horizon. This bullish monthly RSI could be an early sign of a potential recovery if supported by other indicators.

Bollinger Bands and Volatility

Bollinger Bands on both weekly and monthly charts are mildly bearish, indicating that price volatility remains somewhat constrained and the stock is trading near the lower band. This positioning often signals a potential for a rebound, but the mild bearishness suggests that any upward move may be gradual rather than sharp.

Other Technical Indicators

The Know Sure Thing (KST) oscillator remains bearish on both weekly and monthly charts, reinforcing the cautious stance on momentum. Dow Theory assessments also align with a mildly bearish outlook across these timeframes. On balance, these indicators suggest that while some short-term improvement is evident, the broader trend remains under pressure.

Volume and On-Balance Volume (OBV)

On-Balance Volume (OBV) shows no clear trend on either weekly or monthly charts, indicating that volume flows have not decisively supported either buying or selling pressure. This lack of volume confirmation adds to the uncertainty surrounding the stock’s immediate direction.

Comparative Performance Against Sensex

Hexa Tradex’s recent returns have lagged behind the benchmark Sensex across most periods. Over the past week, the stock declined by 0.61% while Sensex gained 1.71%. Over one month, Hexa Tradex fell 2.43% compared to Sensex’s 2.10% decline. Year-to-date, the stock is down 2.88% versus a 1.35% drop in the Sensex. The one-year performance is notably weaker, with Hexa Tradex down 17.09% while Sensex rose 8.58%. However, the longer-term returns tell a different story: over five years, Hexa Tradex has surged 284.22%, significantly outperforming Sensex’s 73.04%, and over ten years, the stock has delivered an extraordinary 914.74% gain compared to Sensex’s 248.14%.

Mojo Score and Ratings

MarketsMOJO assigns Hexa Tradex a Mojo Score of 31.0, categorising it with a Sell rating. This represents an upgrade from a previous Strong Sell grade as of 1 Feb 2026, reflecting some improvement in technical and fundamental parameters. The current rating suggests that while the stock is not yet a buy, the risk profile has moderated, and investors should monitor developments closely for further signals.

Moving Averages and Daily Trends

Daily moving averages remain bearish, indicating that short-term price action is still under pressure. This is consistent with the stock’s recent underperformance relative to the Sensex and the absence of strong volume support. Investors should watch for a potential crossover of shorter-term moving averages above longer-term averages as a sign of trend reversal.

Sector and Industry Context

Within the NBFC sector, Hexa Tradex’s technical signals are broadly in line with peers facing similar macroeconomic headwinds and regulatory challenges. The sector has experienced volatility amid tightening credit conditions and evolving market dynamics. Hexa Tradex’s mixed technical indicators mirror this environment, with cautious optimism tempered by persistent risks.

Investment Implications

For investors, the current mildly bearish technical trend suggests a wait-and-watch approach. The weekly MACD’s mild bullishness and monthly RSI’s positive signal offer some hope for a recovery, but the prevailing bearish moving averages and KST oscillator counsel prudence. The stock’s strong long-term returns highlight its potential, but near-term volatility and technical uncertainty require careful risk management.

Outlook and Conclusion

Hexa Tradex Ltd’s technical parameters indicate a stock in transition. The shift from a strongly bearish to a mildly bearish trend, combined with mixed signals from key indicators, suggests that the stock is at a critical juncture. Investors should monitor weekly MACD and monthly RSI developments closely, alongside volume trends and moving average crossovers, to gauge the sustainability of any upward momentum.

While the stock’s recent underperformance relative to the Sensex is a concern, its impressive long-term returns underscore its potential as a value proposition for patient investors. The current technical landscape advises caution but also leaves room for optimism should positive momentum consolidate.

In summary, Hexa Tradex Ltd remains a stock to watch within the NBFC sector, with technical indicators signalling a tentative improvement but not yet a definitive turnaround. Investors should balance the stock’s strong fundamentals and long-term growth record against the prevailing technical caution and sector headwinds.

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