Unitech may retest Rs 32.50-33 on upside: Thukral

Hemant Thukral, National Head-Derivative Desk at Aditya Birla Money told CNBC-TV18, “Midcap real estate is one more sector or one more side of the market, which has seen a lot of long open interest (OI) being built up. Very clearly, because the market is showing a lot of momentum, so a lot of high beta spaces have started participating now. Unitech is one of them. It has seen 14 percent OI being built up.”

He further said, “For me, more importantly, it has managed to close above that Rs 30 mark, which was acting as a very stiff resistance for it. So, this rally or momentum will continue in Unitech and we may retest Rs 32.50-33 on the upside. Yet it is a high beta counter, so traders should keep a tight stop loss around that Rs 28.50-29 mark, which should be a strong support for Unitech.”