Hexaware : Short Term View

There is a good short term move in large cap IT names like Wipro, Infy, TCS in last month while the markets are behaving sideways with defensive element and currency card playing factors. Low PE ratios also supporting up moves in these stocks.

One can go long in HEXAWARE TECHNOLOGIES LTD. CMP-334. Above 340 close the stock is likely give great up side break out provided the markets does not fall in sell off mode and try to slip towards its lower end of the range of NIFTY 10700. As we can see this stock made 550 around high in September 2018 and has been languishing since, probably ready for some trading action.

Caution Ahead For Indian Stock Markets

On our blog www.meghainvestments.blogspot.in (oldest regularly updated blog in Indian stock market research and advisory field since 2008) we have been writing about inherent weakness in Indian stock markets as well as the non trendiness and sideways/range-bound kind of movement in the markets which has been exactly playing our like that only.

Trade with caution. Sensex , Nifty January 2019.

The markets are still in the same mode of buy on dips and sell on rise, however it is slowly inclining more towards the ‘sell on rise’ attitude. Also, the ‘triangle breakout’ pattern on Nifty-50 Index could be the make or break. Most world markets are in their H2-2018 bear market along with the equity beacon USA DJIA index which started its severest correction since 10 yrs of bull market in terms of time and price as well. To our analysts, this small bounce back will only persists for a little while and big trades are on the downside as we are always trying to hunt out big trades then small movements.

If markets are going to go up we will know it and get to it. The Nifty can give good conviction upside only above 11,000 and not before that. We need weekly close above it and then we are