Unitech can move up to Rs 34: Anu Jain

Unitech can move up to about Rs 34, says Anu Jain, IIFL Private Wealth Management.

Jain told CNBC-TV18, "Unitech is moving because that whole sector has a very positive bias. So if you look at whether it is Housing Development Infrastructure Ltd (HDIL), Indiabulls Real Estate, all of them are moving in the same fashion. Unitech continues to be a hold if it doesn’t break Rs 30.91. It can move up to about Rs 34 because that is where the whole sector is looking poised. Within the sector though that wouldn’t be my top pick, I would probably choose Indiabulls Real Estate as a top pick from this sector if I had to play that kind of beta. But I would say that that’s a better pick but Unitech is poised for about Rs 34."
She further added, "Suzlon Energy is in an F&O band. We have seen it moves, so if it holds Rs 19, it is definitely poised for at least Rs 21 technically. These are beta stocks, move very fast, so Rs 21 seems to be on the card."