Unitech - On High Momentum, Breaking Out Consolidation

The price action has been trading in consolidation and now it is showing momentum while breaking out from previous consolidation range. It is also to make note that the current momentum is been observed on fibonacci retractment level of 78.6. That shows buyers coming in with high pressure taking prices up again. It shall reach to 7.40 levels if it closes above 5.75 today.

Target: 7.40

Stoploss: 4.80