Short Hexaware Tech: Sudarshan Sukhani

One can short Hexaware Technologies, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "From strength and to weakness and then eventual breakdown. So it’s a pity because Hexaware Technologies was always a favourite on the long side but the charts tell us that more downside here. IT also could have a subdued performance when we compare it to the other sectors this week. So, Hexaware is a short selling opportunity."
He further added, "In a market where the index is likely to be a little laid back, I think short selling should also be done preferably in sectors that look weak."
The share touched its 52-week high Rs 142 and 52-week low Rs 72.60 on 14 September, 2012 and 25 January, 2013, respectively. Currently, it is trading 38.38 percent below its 52-week high and 20.52 percent above its 52-week low. Market capitalisation stands at Rs 2,610.20 crore.