Sunday, April 19, 2009

TA - Punj Lloyd

Punj Lloyd (Rs 119.4): Punj Lloyd has been one of the major disappointments of 2008 moving far below our projected long-term base between Rs 200 and Rs 250. The relentless slide continued in 2009 until it finally bottomed at Rs 66 in March 2009. Though it has gained over 100 per cent since the March trough, it continues to show year-to-date losses. It is also down almost 80 per cent from its January 2008 peak.

Short-term resistance for the stock is at Rs 130, where it is halting currently. Rally beyond this level will take it to the resistance zone between Rs 170 and Rs 180. Investors with a medium-term perspective can sell some of their holdings on a failure to move above this level.

Key medium-term resistance is in the band between Rs 200 and Rs 220. This can be the upper ceiling for the stock for this year. A strong break-out above this level is required to signal that the long-term outlook has turned positive.

Source : Businessline 19-04-09

Our Recommendation :
Our Research Team Views :

Day High Low Rs.130-115
Monthly High Low Rs.80-135
6M H/L Rs. 215-70

This share has risen sharply more than 90% in the last 6 months. The following
are the ideal ranges for buying and selling :

Buying Range : Rs.85-90
Selling Range : Rs. 125-135

Wait for the price to the buying range on correction in the stock markets.

Holding period : 12 months
Returns expected : 100% plus

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Quarter, 6 M / 12 M picks

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Equity Research Team

Intelligent Investor -
Invest Advisory Arm of

Ravina Consulting
Bangalore India

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