Buy Hexaware Technologies; target of Rs 96: IIFL

IIFL is bullish on Hexaware Technologies and has recommended buy rating on the stock with a target of Rs 96 in its April 8, 2013 research report.
 
“Hexaware on the intra-day line chart has given breakout from an inverted head and shoulder pattern above Rs90. Hence forth, the same neckline breakout line is likely to turn into strong entry for initiating new long positions in the market. It is generally seen that after such a breakout, price generally pullback to the support line, which in this case stands at Rs90.50, before moving higher. The stock managed to end in green despite volatility in broader markets and was also able to close above the 100-DMA which stands at Rs90. (Duration 5 days),” says IIFL research report.

FIIs holding more than 30% in Indian cos

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