Wednesday, 2 September 2009

Punj Lloyd has target of Rs 245: Gujral

Punj Lloyd has target of Rs 245, says Technical Analyst, Ashwani Gujral.

Gujral told CNBC-TV18, "Punj Lloyd had 7-8 up days. The key to shorting stocks is that once something has 7-8 up day, and you can broadly assume that more or less everyone is in and yesterday was the first down day, 4% down, so this becomes the right candidate because it has a very close top and target here is for the day could be about Rs 245. Now with all of the things like shorting or WWF, they say don't practice them at home, but incase 4,730 is taken out, you need to get out of these shorts.”

Source: Moneycontrol

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