Go short on Punj Lloyd: Ashwani Gujral
Anytime Punj Lloys show you some kind of bounce back which is unlikely, go ahead and short them again because the falls that we had yesterday are not indicative of the fact that they are about to bounce back that there was heavy delivery selling.
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| Updated: Ashwani Gujral, Chief Market Strategist, ashwanigujral.com, in a chat with ET Now, gives his stock calls
What is the call on IVRCL, Punj Lloyd and Lanco?
Anytime they show you some kind of bounce back which is unlikely, go ahead and short them again because the falls that we had yesterday are not indicative of the fact that they are about to bounce back that there was heavy delivery selling. So if you get any kind of minor pullback which you will, that would be a point to go short on them basically because they have made 52-week lows, you could have 2 or 3 days of stability, not even a rally. At that point you can go short again. It seems that most of these will become Rs 10-15-20 stocks and then maybe will start bottoming out. So there is further to go.
What is the call on IVRCL, Punj Lloyd and Lanco?
Anytime they show you some kind of bounce back which is unlikely, go ahead and short them again because the falls that we had yesterday are not indicative of the fact that they are about to bounce back that there was heavy delivery selling. So if you get any kind of minor pullback which you will, that would be a point to go short on them basically because they have made 52-week lows, you could have 2 or 3 days of stability, not even a rally. At that point you can go short again. It seems that most of these will become Rs 10-15-20 stocks and then maybe will start bottoming out. So there is further to go.
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