Rahul Mohindar, technical analyst at viratechindia.com is of the view that Unitech may touch Rs 21-22.
Rahul Mohindar, technical analyst at viratechindia.com told CNBC-TV18, "Unitech is a trading play. I think the stock is looking good from very short-term perspective and I am not looking at adding it to our portfolio as such but for the next couple of days, Unitech is going to get some very strong support around Rs 18-18.50 level. If you look at volumes that we clocked on Unitech about two weeks ago when the stock went up was quite colossal. I think that is going to be a point where you would experience a lot of support."
"At current level with Rs 17.80 as my stop loss I would look at near-term targets of Rs 21-22. I am not looking at very long-term upward projections on this but trading play is the way I would put it," he added.
At 14:33 hrs Unitech was quoting at Rs 19.70, up Rs 1.15, or 6.20 percent. It has touched an intraday high of Rs 19.80 and an intraday low of Rs 18.70.