Buy Unitech with short term target of Rs 40: Agarwal

Shubham Agarwal, of Motilal Oswal Securities is of the view that one can buy Unitech with a short term target of Rs 40. Shree Renuka Sugar and Balrampur Chini may see good upside. "I would recommend avoid Suzlon Energy as it has already met its short-term target of Rs 20," he adds.

Agarwal told CNBC-TV18, "Suzlon Energy has already met its short-term target of Rs 20 so I would recommend avoid on that. But yes, Unitech is something from the realty space which we preferring right now, one can still look to participate. Short-term target for the stock can be kept at Rs 40 and a decent support has been formed around Rs 29 so that can be taken as a stop loss." On the sugar stocks, Agarawal says, "There is a short-term break out in Shree Renuka Sugar and that is a short term record that has already taken place. The stocks is headed towards Rs 37-38 that is what we feel is a movement that can be achieved in the short run. Even Balrampur Chini has been an overall outperformer so that can also be looked at for an appreciation of around 15-20 percent." Disclosure: I don't have any personal holding but we might have recommended some of the stocks to our clients.