The Hindu Business Line : Unitech

This stock recovered from the low formed at Rs 97.5 on Monday to spend the rest of the week in a narrow range between Rs 100 and Rs 120. The doji formation in the weekly candlesticks chart denotes status quo.

That is, the medium-term view remains negative.

If the stock declines below the psychological support at Rs 100, it will pave the way for a decline to Rs 96, Rs 78 or Rs 62.

A close above Rs 138 is needed to mitigate the bearish medium-term view.

Supports in the week ahead would be at Rs 106 and then Rs 98. Near-term resistances would be at Rs 134 and then Rs 145.

Traders can hold their longs with a stop at Rs 95.

Lokeshwarri S.K.

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