UNITECH Cmp Rs.82 saw fresh short position with +2% open interest added with price correction of -2% on volumes lower by -11% compared with previous day. Settlement basis this stock has seen short covering with -7% reduced in O.I and price higher by +6%. Stock has made likely Double Top around Rs.84 and cut previous day low; move below Rs.80 would confirm weakness. RBI meet, rise in Steel & Cement prices added to that Telenor investors concern about investing in India’s Telecom space would pressurise this stock Negatively, Support Rs.78 & 73 while Rs. 85 would resist. As per Fan Principle this stock shows major downside if Rs 77 is broken and trading in down channel adds to weakness.
Previous Posts :
Realty Stocks - Really A Caution! http://akprabhakar.blogspot.com/2009/10/realty-stocks-really-caution.html
UNITECH the Stock in focus again http://akprabhakar.blogspot.com/2009/10/unitech-stock-in-focus-again.html
Realty Stocks - Really A Caution! http://akprabhakar.blogspot.com/2009/10/realty-stocks-really-caution.html
UNITECH the Stock in focus again http://akprabhakar.blogspot.com/2009/10/unitech-stock-in-focus-again.html
