Buy Hexaware Technologies, target Rs 363: Rupak De

Hexaware Technologies | Company reported profit at Rs 162.7 crore in Q3CY20 against Rs 152.4 crore QoQ, revenue jumped to Rs 1,585.9 crore from Rs 1,569 crore QoQ. (Image: nexaware.com)

Rupak De

Hexaware Technologies has been consolidating after a sharp correction which means the stock is making base for the next sharp movement. On the other hand a Tweezers Bottom is visible at Rs 308 on the weekly chart of the stock which suggests a rally as long as the recent bottom remains intact.

In addition, a bullish divergence visible on the daily RSI (14) which suggests that the momentum is likely to turn positive in the near term.

Traders can accumulate the stock in the range of Rs 315–325 for the target of Rs 363 with a stop loss below Rs 303.