Sell Unitech, says Sukhani

One can sell Unitech, says Sudarshan Sukhani of s2analytics.com. He said the stock has been giving weak signs since Thursday.

Sukhani told CNBC-TV18, "Unitech is a sell. There was a small rally and that rally stopped at resistance. It is turned down now and for the last two days it has been giving us weak signs - closing lower. I think the small bear market rally in Unitech is done and over, and one should be looking to short it. As usual short selling should be done only by professional traders but that’s a different issue. The trade for Unitech is to be on the side of the sell."
At 09:21 hrs Unitech was quoting at Rs 27.25, up Rs 0.25, or 0.93 percent. It has touched an intraday high of Rs 27.40 and an intraday low of Rs 27.10.
The share 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 33.37 percent below its 52-week high and 44.95 percent above its 52-week low. Market capitalisation stands at Rs 7,129.42 crore.