Short Maruti Suzuki, Hexaware: Sukhani

Short Maruti Suzuki and Hexaware Technologies, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "Maruti Suzuki is very bearish; a far better option would be to buy Tata Motors. Maruti’s charts are cracking; they are breaking all kind of support levels. The message that Maruti is giving is very worrying but the target here is Rs 1050 in the short-term and it is a short sell."

He further added, "Hexaware Technologies is one of those unfortunates where bullishness has dissipated. We were upbeat from Rs 80-75 onwards that is over now. It is now turning around, making a very large intermediate bearish distribution, so it is a short sell. We should not make the mistake of buying it. It must be sold on every rally. Even now a target of Rs 110-112 is possible and probably it will go back to Rs 80-85."