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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Equity Research Team

Intelligent Investor -
Invest Advisory Arm of

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Bangalore India

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Technicals - Icici, Punj Lloyd, Suzlon, Unitech & LIC Housing

ICICI Bank
Current price: Rs 398
Target price: Rs 365

The stock is ripe for some profit-booking. It's hitting resistance above Rs 400. On the downside, there is support between Rs 360-Rs 370 and that is likely to be tested on intra-day basis at least. Keep a stop at Rs 405 and go short. Book profits below Rs 365. Be prepared for 10 per cent intra-day swings. 

Punj Lloyd
Current price: Rs 114
Target price: Rs 125

The stock has made what seems like a valid breakout from a base at Rs 105. It has a potential target of Rs 125. Keep a stop at Rs 110 and go long. Start booking profits above Rs 122. If the stock dips below Rs 106, the next reliable support is at Rs 97. So a short would be possible. 

Suzlon Energy
Current price: Rs 57.5
Target price: Rs 63

The stock has made a breakout past resistance at Rs 54 on a volume expansion. It has a potential target of Rs 63 and perhaps Rs 65. Keep a stop at Rs 55 and go long. There is massive resistance at Rs 67- Rs 68 so the stock is very unlikely to cross the level. 

LIC Housing
Current price: Rs 282
Target price: Rs 300

The stock has broken out past resistance at Rs 250 on high volumes. It could achieve a target of about 300. Keep a stop at Rs 276 and go long. Be prepared for major bursts of volatility in what is usually a very stable stock. Book some profits above the Rs 290-mark. 

Unitech
Current price: Rs 42
Target price: Rs 48

The stock has moved up on strong volume expansion. It has a potential upside till the Rs 48 level and if there is a burst of profit-booking, it could collapse back till the Rs 37-Rs 38 level. Keep a stop at Rs 40.5 and go long. Start booking profits above Rs 46.

Source BS 13-04-09