Unitech is one of the good companies in the realty sector that you can bet on. However if you look at the stock, then it has been under performing for quite a long time. The stock had made a low of about 66 rupees which was a fantastic buy at those levels. The case now has completely changed because the stock’s high was capped at 90 rupees for a very long time which now has been broken out with heavy volumes on friday.

If market is going to stay intact, the stock might try to touch it’s 52 week high of 108 rupees. Although realty sector overall does not look like it will out perform the market still, but with a short term view till Diwali, one can buy unitech at current levels and might make a decent profit. Since realty sector has not performed in the entire rally and has underperformed, we might expect some rally at least if markets were to move higher from here.

Buy Unitech at current levels with a target of 110 and keep a stop loss of 88.

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