Unitech has support at Rs 169-172: Bose

Technical Analyst, Rajat K Bose is of the view that Unitech has support at Rs 169-172.

Bose told CNBC-TV18, "Unitech is trading at Rs 177; if it comes around Rs 172-169 and takes supports then that support will be a potential support area today. If it bounces back from those levels maybe then one might consider buying into that but otherwise its better avoided."

He further added, "Earlier I wasn’t expecting DLF would sustain below Rs 440; since it is sustaining below Rs 440 so it might test Rs 415 to about Rs 402 range. When it comes to that range and if it shows stability and any signal for a bounce back then one might consider going long in it. But at these levels there are no trades and especially I would avoid shorting these stocks because they have already accumulated quite a number of short positions."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.