Unitech can move upto Rs 48: Sandeep Wagle
The immediate target is a small trading play of 7-10%. So Rs 46-48 utmost can be topped off.
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| Updated: ET Now spoke to Sandeep Wagle, Founder & MD, APTART Technical Advisory Services, aptartindia.com, on his view on Unitech.
What is the call on Unitech?
To be honest, the immediate target is a small trading play of 7-8-10%. So Rs 46-47-48 utmost can be topped off. I really do not see Rs 60, that it still requires some more confirmation in terms of the prices making a higher top, higher bottom.
But yes, one can observe that good volumes today, lot of buying has happened and over the last few 2 or 3 weeks, it has not broken that level of Rs 35. So that level will act as a strong support. I will talk of a move up to Rs 46, on an outer side, Rs 48. To top off Rs 60 at this point of time possibly would be little too far fetched.
What about some other stocks from the real estate basket?
DLF is in fact 1% down, an HDIL, LITL, they move in spurts. So as of today, I would talk of Unitech as the best stock to move for the next 4 or 5 days but yes, they will also move up along with that but we can only talk of a 4-5-6% upside trading move. One cannot talk of an accumulation and the bottom being done and we will talk of 30-40-50%, that is as of now we still do not have that view.
What is the call on Unitech?
To be honest, the immediate target is a small trading play of 7-8-10%. So Rs 46-47-48 utmost can be topped off. I really do not see Rs 60, that it still requires some more confirmation in terms of the prices making a higher top, higher bottom.
But yes, one can observe that good volumes today, lot of buying has happened and over the last few 2 or 3 weeks, it has not broken that level of Rs 35. So that level will act as a strong support. I will talk of a move up to Rs 46, on an outer side, Rs 48. To top off Rs 60 at this point of time possibly would be little too far fetched.
What about some other stocks from the real estate basket?
DLF is in fact 1% down, an HDIL, LITL, they move in spurts. So as of today, I would talk of Unitech as the best stock to move for the next 4 or 5 days but yes, they will also move up along with that but we can only talk of a 4-5-6% upside trading move. One cannot talk of an accumulation and the bottom being done and we will talk of 30-40-50%, that is as of now we still do not have that view.
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