Prefer HCL Technologies, says Anil Manghnani

Prefer HCL Technologies, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "If the market were to start to correct then some of these names which are falling much  before could probably stabilize now and give some support to the index itself. So I think HCL Technologies is a better  call than the other one. I think that is a more steady stock. TCS, Wipro and Infosys look weak on the chart but this is  one that broke out post its last number, went to make new highs."
He further added, "I think the fall still is buyable, it is still trading right at its 50-day average. You look at Infosys, it is  trading below the 200-days average, below the 20-days average and below the 50-day average that is not the case  with HCL Technologies. I thought since it is so close to the 50-day average at Rs 608 it is a fair punt with a stop maybe  1 percent below at Rs 603. I think the stock could bounce back to Rs 630-640."
"The other one is purely a punt. If you look at Hexaware chart, it looks completely destroyed. So it is strictly a day trade  with clear 1:2 ratio where your stop is just below Rs 90 and a day trade for Rs 95. So that is not a medium-term call or  anything, it is just a day trade."