Short Hexaware, TVS Motor: Amit Harchekar

Amit Harchekar of A Plus Analytics told CNBC-TV18, "Technically Hexaware Technologies has been consolidating into a bearish pattern and since the stock is unable to sustain above Rs 255 zone. We believe the stock has entered into a distribution zone. Even when you look into from relative strength i.e. RSI facing to move above Rs 50. It is already trading around 50-day moving average.""We are expecting a steep slide in Hexaware from these levels and expecting levels below Rs 220 in the coming days. So, one can initiate short positions in the stock, maintain a stop loss of Rs 262 and play for the downside target," he said."One can go short in TVS Motor Company. We have already seen the completing its bearish wedge when it tested zone of around Rs 242 to Rs 245 and right now we believe it has already completed its bear market retracement. We are expecting further slide of at least 7-8 percent from these levels. So, from trading perspective one can initiate short at these levels. Maintain stop loss of Rs 247 and play for target of Rs 217."