Buy Punj Lloyd on corrections: Technical Trends
Punj Lloyd gives the impression that maybe the worst is over for it, so traders should gather the courage to buy.
By 
| Updated:
| Updated: What about Ashok Leyland and Punj Lloyd?
Sudarshan Sukhani: Ashok Leyland is a disappointment. It has fallen. The current small rally is not important enough or not significant enough to say that trend has changed. So at 52, it is probably reaching a top rupee or 2 on the upside and the chances are that it will break down from 46 again. So it is part of the auto pack which is dismal anyway. Punj Lloyd is a different story because now the impression is that maybe the worst is over for it, so I would say that traders should gather the courage to buy Punj Lloyd on these corrections and dips that will keep on coming. Punj Lloyd has made a floor and said okay, chances are I will stay where I am.
Sudarshan Sukhani: Ashok Leyland is a disappointment. It has fallen. The current small rally is not important enough or not significant enough to say that trend has changed. So at 52, it is probably reaching a top rupee or 2 on the upside and the chances are that it will break down from 46 again. So it is part of the auto pack which is dismal anyway. Punj Lloyd is a different story because now the impression is that maybe the worst is over for it, so I would say that traders should gather the courage to buy Punj Lloyd on these corrections and dips that will keep on coming. Punj Lloyd has made a floor and said okay, chances are I will stay where I am.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
ADVERTISEMENT
