Jan 02, 2013, 11.07 AM | Source: CNBC-TV18
Buy Unitech, says Anil Manghnani, Modern Shares & Stock Brokers.
Anil Manghnani (more)
Analyst, Modern Shares & Stock Brokers | Capital Expertise: Equity - Technical
Manghnani told CNBC-TV18, " Unitech is more of a buy and hold. It is rare one. Normally, you expect the largecap stock sector to breakout first and then the mid-cap and small-cap to follow. It is strange that this time around you had Anant Raj and various names flying all over the place. But DLF for the various reasons, politically motivated reasons wasn’t doing well. Last week I gave DLF as a breakout."
He further added, "This week I have choosen Unitech, but again I am not playing it as a trade. It has done a crossover of averages on the weekly, which is more a buy and hold story. So with a deeper stoploss of Rs 27 now I think Unitech will catch up to lot of the midcap and smallcaps. Look at Kolte-Patil, went from Rs 40 to Rs 120-130. So, I am not saying it will do that kind of move, but I think it needs to play a catch up to some of the mid-caps, which have gone out of whack. So that’s why I have gone with Unitech and I think DLF will continue its move also."