Hexaware Tech may go below Rs 100: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that Hexaware Technologies may go below Rs 100.

Sukhani told CNBC-TV18, "Index stocks today are likely to be out of focus and we should prefer to look at midcaps. Era Infra Engineering as a midcap stock has been in a trading range for months altogether. There is a sense that it is breaking out. It is not a day trading idea, not even a swing trading idea. I just put it because in a choppy market, there will not be many opportunities anyway. So here is a stock that is probably - if it starts giving signs of breaking out, the chances are it could give a very good reward as most midcaps have done."
He further added, "Hexaware Technologies is a very big disappointment. Its rally dissipated at Rs 140, it has been falling, it is making lower highs, lower lows and now at Rs 105-106 it is willing to breakdown from a very strong support level. That is not all. The CNX-IT itself is getting very disturbing, sometimes it gives signs of bullishness, sometimes it changes, which means it is primarily very choppy. So it is not getting sector support either. I think Hexaware is willing to go below Rs 100 and go into two digits again towards that Rs 85-90 level."