Do not initiate long term buy on DLF, Unitech: Bothra

Do not initiate a long term buy on DLF and Unitech, says Kunal Bothra, Sr Technical Analyst, LKP.

Bothra told CNBC-TV18, "Today's move is something very strange as compared to the markets because real estate has been the weaker sector for the entire market. But it's showing probably some signs of hope at this point of time." He further added, "We have to see probably if it lasts today or not, but I think DLF and specially Unitech which has seen a very good gain today, you might see some sort of a pullback, probably 3-5% on both of these stocks. But I think the overall picture still is not clear on these stocks. I would probably not initiate a long term buy on this but I think a short term buy can be triggered in both of these stocks."