Sell Tata Power; buy Hexaware: Sukhani

Sudarshan Sukhani of s2analytics.com is of the view that Tata Power is likely decline further so it is a sell while Hexaware came out of its trading range and it’s become a buy.

Sukhani told CNBC-TV18, “Tata Power is cracking and going below its earlier lows with an initial target of Rs 86. Many stocks are now cracking for the second time. The first time they cracked in the first week of May and the second round could be starting and that could be worrying for the index. It is a short sell.”
He further added, “Yesterday Hexaware Technologies came out of a trading range and closed at the top of the day’s range. Hexaware is a buying opportunity. I think the decline we saw in Hexaware was more of a correction rather than a downtrend. So that correction is over. It is one of the rare stocks which we can buy on dips. So today also if Hexaware dips or if not necessarily today but in the next couple of days it consolidates, it becomes a buy.”