Hexa Tradex Ltd – Long-Term Base Formation with Descending Pressure Still in Play

Weekly chart shows a sharp impulsive rally followed by a prolonged corrective phase Post-peak, price has been forming lower highs, contained within a declining channel Recent candles indicate compression near a flat demand zone, suggesting balance between buyers and sellers Price is hovering close to a long-term rising base, preventing further structural breakdown for now 📐 Key Price Zones (Observed on Chart) Immediate Demand Zone: ₹150–₹155 Intermediate Supply Area: ₹175–₹185 Major Overhead Resistance: ₹200–₹210 (previous distribution zone) Long-term Trend Support: Gradually rising base connecting higher lows since 2022 🔄 Momentum & RSI Behavior RSI has remained subdued below the 50–55 zone, reflecting weak momentum RSI is moving sideways within a low-momentum band (≈35–40) No clear bullish divergence yet; momentum improvement is gradual, not impulsive RSI structure suggests stabilisation rather than trend reversal at this stage 📊 Volume Characteristics Volume expansion was visible during the sharp rally phase Post-rally correction shows muted and contracting volumes, typical of digestion Recent sessions show selective volume spikes near support, hinting at participation but not confirmation 🧠 Structural Interpretation The stock appears to be in a time-wise correction rather than price-wise collapse As long as price respects the lower base, the structure remains neutral-to-consolidative A sustained move above the falling channel with improving RSI would be required to alter the broader bias Until then, the setup reflects compression under resistance with weak momentum recovery 📢 Disclaimer: For educational and technical analysis purposes only; not investment advice. 👤 Rajneesh Sharma – SEBI Registered Research Analyst (INH000020332)