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It was yet another strong show by Unitech last week; the stock closed with a 10 per cent weekly gain. The ‘three white soldiers’ formation in the weekly candlestick chart has bullish connotations. The stock faces immediate resistance at Rs 336 and then at Rs 341.

The stock could consolidate sideways between Rs 295 and Rs 340 before attempting to take on the resistance at Rs 360. Traders can buy on declines with a stop at Rs 290.

The key medium-term resistance for the stock is at Rs 360, as indicated earlier. Reversal from here can make the stock move in a band between Rs 250 and Rs 350 for a few more weeks.

— Lokeshwarri S.K.

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