Unitech has resistance at Rs 56-58: Mathew

Technical Analyst, E Mathew is of the view that Unitech has resistance at Rs 56-58.

Mathew told CNBC-TV18, "Today has been a great day for Unitech but one must remember that investors may hold on, but for traders - I think we are heading into a resistance zone between Rs 56-58. I would closely monitor how this stock behaves whether it is able to take out that resistance between Rs 56-58 with ease or does it struggle a lot because right now my stoploss is clearly defined at around Rs 45. Below Rs 45 as a trader I would come out of my long positions."

Disclaimer: It is safe to assume that analyst and his clients may have an investment interest in the stocks/sectors discussed.