Invest in Unitech: Darashaw

Unitech is an investment buy, says Regan F Homavazir of Darashaw.

Homavazir told CNBC-TV18, "Unitech seems to be a bottom fishing candidate for us at the moment. It is an investment buy but if you are looking at it from a trade perspective - you may not get anything over Rs 60. But that’s something that we would like to play for on Unitech."
He further added, "DLF seems to be doing the same thing as Unitech. They are making some very technically significant structures on chart like a double bottom and it has been consolidating for quite some time. We expect DLF to go up to Rs 400."
Unitech touched its 52-week high Rs 40.90 and 52-week low Rs 18.80 on 15 January, 2013 and 04 September, 2012, respectively. Currently, it is trading 9.17% below its 52-week high and 97.61% above its 52-week low. Market capitalisation stands at Rs 9,719.56 crore.