Unichem Laboratories has resistance at Rs 205: Bothra

Unichem Laboratories has resistance at Rs 205, says Kunal Bothra, Sr Technical Analyst, LKP.

Bothra told CNBC-TV18, "In terms of technical's I believe that if we look at the retracement of the entire fall in Unichem Laboratories from somewhere around Rs 260-Rs 265 and if look at that retracing the downtrend at Rs 100-Rs 103 levels. Looking at a minor 50% retracement it comes at around Rs 185 levels" He further added, "The other strong resistance comes at Rs 205 so the strength for the stock is on the upside Rs 185 should be a very short term target for Unichem and probably if it breaks Rs 185 and trades above that also couple of weeks one can look at a target of Rs 205." Disclosers: No personal holdings in any of the stocks but at LKP we keep recommending the stocks to our clients.