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Wednesday 29 October 2008

Unitech - what next in the very near future

Unitech is one stock which has been tumbling down live an avalanche coming off a mountain top. Assuming that it has hit a low in the very near future, it can technically bounce to at least the first fibonacci retrace level of 0.236 which stands at 65.6. It the stock is still weak, we can see more lows forming in the coming days but this value can be safely assumed to hit if market in general shows some resilience of not falling more.

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