UNITECH
In the past Nifty index and Sensex have pulled up very strongly from their near term lows. Some of the stocks are still at their 52 week low. One of the stock is Unitech. The stock have performed well in the last few sessions, but it seems there is still some steam left in the counter. Unitech had made a low of 30.70 and bounced back from to close at 45.35 levels as on 06th April 2011. Pretty good volumes have been seen in the last few days. Unitech close above the 46.60 levels can take it to 55 levels. It may face stiff resistance at 48.50 levels. A decesive breakout above the same will take the stock to 53-55 levels. The stock have close above its 50DMA and heading towards its 100DMA. RSI have been in the uptrend for a quite a some time.
Buy Unitech close above 46.50 with a tgt of 53-55 SL 44.
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