Namaste!
Unitech was the stock which was going at a speed of >400 KMPH in a road, where many many real-estate companies already driving, to win the race. The people on-board enjoyed the ride. Many people became MTM (mark to market) millionaires, especially the fully exposed people who had only 2-3 companies in their portfolio. Some people get on-board feeling...
Hi Guys,There is very high probability move in making in this stock, look for upside till 3.20 or max 3.70. but be very cautious you don't wanna keep this stock after those levels it might come back again around 1.80 levels. so when you are profitable get out.
thanks/
This types of stock is full time operated by speculators .. they not follow technical because .. they trap trader cum technical analyst.. so this is humble request to all of my friend .. don't trade in such types of stocks..
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And follow for such more analysis ....
Unitech Ltd. is in a consolidation for a long time now. A triangle pattern called 'Descending Triangle Pattern' is forming on the 4 Hour time frame. Although, the text book definition of a 'Descending Triangle Pattern' is that the price usually break to the downside, however, that's not always the case.
Also, the RSI shows divergence + there is also an ongoing...
There is a potential BULLISH FLAG setup on Unitech Ltd. The price is finding support at around Rs. 6.30. If the price breaks out of the consolidation, we could look to take our proft at around Rs. 11.00 which is the exact hight of the Flag's Pole!
