Hexaware Technologies may test Rs 283, says Sameet Chavan

Sameet Chavan of Angel Broking told CNBC-TV18, "Hexaware Technologies is clearly undergoing consolidation phase, recent minor correction from Rs 285-280, precisely halted around its daily 89-exponential moving average (EMA) support level of Rs 265. Since last two days, the stock has been hovering around Rs 265."

"Looking at today’s price movement along with the hourly chart structure, we believe that there is a possibility the stock might give a decent bounce towards Rs 282-283. We don’t have aggressive target, Rs 283 is what we are expecting, stop loss can be fixed at Rs 265.50," he said.

Disclosure: Analyst does not have any personal interest in the stock, he may have recommended it to his clients