Unitech may slip to Rs 20: Agarwal

Sanjeev Agarwal, CEO, Dynamix Research & Capital Management is of the view that Unitech may slip to Rs 20

Agarwal told CNBC-TV18, “Unitech chart is breaking down; it goes down then takes a sideways correction on the upside and then goes down again. It is clearly a downtrend. Anyways, I expect this stocks to touch much lower levels even below Rs 20 somewhere around Rs 18-16. That will be a far better price to buy because I feel 2013 is going to be very tough year for equities and we will see a significant downside even from current levels.”
He further added, “Fresh buyers should wait for the right price because that will give them a much better opportunity to buy at a lower price and they can buy even in a higher quantity in a same amount.”