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Unitech formed an intra week trough at Rs 152 and moved sideways in line with our expectation. The near-term trend in the stock is up but it faces strong resistance in the area about Rs 180 where the 50- day moving average is present. A weekly close above this level will signal that the stock is on firm ground to recovery.

Subsequent medium- term targets are Rs 210 and then Rs 245.

For the near-term however, the stock could continue to move in the band between Rs 150 and Rs 180. Traders can hold their longs with a stop at Rs 145.

Subsequent support is at Rs 135. Long-term investors can accumulate the stock close to Rs 150.

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