Kunal Bothra of LKP is of the view that Unitech has support at Rs 15. "If it breaks Rs 15, then it may be seen in single digit price," he adds.
Kunal Bothra of LKP told CNBC-TV18, "Out of the entire real estate pack, DLF showed some sense of movement, Housing Development Infrastructure (HDIL) was trading above the 200-day moving average, but Unitech was one stock which did not move. It has good support at Rs 15, but if Rs 15 breaks then you are looking at single digit price for Unitech."
At 14:49 hrs Unitech was quoting at Rs 15.70, down Rs 1.60, or 9.25 percent.
The share touched its 52-week high Rs 40.90 and 52-week low Rs 14.65 on 15 January, 2013 and 06 August, 2013, respectively.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.