Neppolian Pillai of Modern Shares and Stock Brokers is of the view that Unitech can go upto Rs 304. One can again place oneself into a buy mode at the lower level maybe at around the Rs 260-250 level in it, he added.

Neppolian told CNBC-TV18, "The very fact that you mentioned that realty is oversold, that is why these kind of sharp recoveries come in and they were at either major support level or at all-time bottom levels."

He further added, "Maximum support level for Unitech is Rs 245-256. Now that is recovering from there. It is about Rs 282 now, okay you have a Rs 20 headroom there. It can move up to about Rs 304. HDIL did almost a double bottom kind of level at about Rs 478. Now that is recovering. You have another maybe Rs 30-40 headroom there up to Rs 634-649. So, the headroom on the upside, since they have recovered so fast, so furiously is less, though one can again place oneself into a buy mode at the lower level maybe at around the Rs 260-250 level in Unitech at about the Rs 500 levels on the HDIL counter. The headroom on the upside seems limited."

"IT sector in the current fall is going to majorly bottom out. That is visible from the fact that a stock like Infosys did a 10%."