Double Bottom formation if broken can see a good fall
Sell below 966 Tgt 953 and 937
Unitech has been thrashed by bears like company is going for bankruptcy.There are stories in market than stock is going for rs 10 levels. Unitech is india 2 largest realty developer.
The current fall is because of some pledging shares and rumors that Morgan Stanley will sell share in open market.
Unitech has clarified yesterday that they have paid half of money and remaining half will be paid by 22 Feb.
Below 50 it becomes a value pick and i would request investor to have courage and buy few shares at cmp.
On Daily Charts Huge Positive Divergence in RSI and MACD.Bad news have been discounted and we can see a good short covering and value buying which can propel it higher.