Sell Hexaware Technologies, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that one can sell Hexaware Technologies.

Sukhani told CNBC-TV18, "Hexaware Technologies has been a disappointment. It has been falling from Rs 140 downward and doesn’t stop inspite of the fact that we had such a spectacular week for most equities, Hexaware continue to fall and in fact fell on Friday."
He further added, "It has broken all resistance levels and the last was Rs 114-115, it has broken that on the downside. It is difficult to say what it is doing; the markets do not like it. An eventual positional trade could see Rs 100, short-term traders could see slightly more levels but the trend is down, go and sell it.
"Crompton Greaves is one of the few stocks that retreated on Friday. A lot of these stocks went up on Friday or went sideways but Crompton Greaves has been in a downtrend. It had a very small rally together with the Nifty, nothing compared to what the Nifty or the other ones did. That rally is just a bear pullback rather than anything else. That bear pullback should end as the market becomes less momentum driven and we are going to see lower levels. It does appear that Crompton Greaves has significantly lower levels now." Disclosure: I have no personal holdings in the stocks discussed.