Technical Analysis of Indian Equities by Nooresh

Strong Technical Pick – Unitech Limited

UnitechSTRONG 

 

The last trade on DLF from 340 to 370 + was a clean one and real estate stocks have not participated in the current Index rally.

Although a technical breakout takes place above 91. But taking a speculative trade rightaway seems fine as my risk-reward seems pretty interesting.

Buying around 86.5-88.5 with a stoploss of 84 on closing or 83 intra day basis one can look for a target of 95/105 in short term.

Sustaining above 91 could take the stock to the targets in quick time.

 

Please do your own research and take a position to the size where you can digest a stoploss hit without any concern. Over-leveraging is not advised.

Option buyers can look towards 95 call but consider it to be a 30-50% stoploss on money deployed.

 

Cheers,

 

Nooresh

Article by Nooresh Merani

Nooresh has written 2555 articles.

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{ 3 comments… add one }
  • ANJALI October 1, 2010, 08:49

    Sir,
    So i will buy UNITECH 95 Call option for Rs 2.5
    Let me know ur view

    regards
    Anjali

    Reply
  • Murtaza Attari November 5, 2010, 13:01

    Hi Nooresh …

    Whats your view NOW after testing 88 i.e. the NL of the HnS it has started to bounce back and is currently at 90.

    95 again and then 108 or u think this will fizzle out ?

    Murtaza

    Reply
    • nooresh November 5, 2010, 14:54

      Hi Murtaza,

      As of now i expect no fireworks in the stock.

      Reply

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