Thursday, 16 October 2008

Below Rs 180, Punj Lloyd can slip to Rs 145: Gujral

Technical Analyst, Ashwani Gujral is of the view that if Punj Lloyd breaks Rs 180, then it could be headed to about Rs 145.

Gujral told CNBC-TV18, "Punj Lloyd was the stronger midcap kind of capital goods stock but yesterday it�s broke down below Rs 190-195 level, which held on for a bit. If it breaks even Rs 180, I think it could be headed to about Rs 145. The danger is in the largecaps now things like Larsen & Toubro, ONGC, Reliance these are the kinds of stocks, which should come under pressure, particularly ONGC looks weak."

Disclosure: It is safe to assume that analyst and his clients may have an investment interest in the above stock/sector.

Source: Moneycontrol

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