Short Hexaware Technologies, says Sukhani

Short Hexaware Technologies, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I am cautious on midcap IT. Almost all midcap IT stocks show signs of either distribution or actual downtrends, in fact bear markets and Hexaware Technologies is a stock we have been downbeat on when it started its downtrend. The downtrend is not over; it is surprising a small rally apparently was a bear market rally. There is more downside here probably Rs 85 or even lower, so Hexaware remains a short sell."
He further added, "United Spirits is a short and that’s much to my surprise. I thought this stock will never come down but apparently there is a limit to which any price can go up. A target of Rs 1800 has been set on this and the trend is now very clearly on the downside, no matter what the news is and what other things happen. This is a nice short which means irrespective of what the Nifty does, this one should workout."