Saturday, 8 December 2012

PUNJ LLYOD LTD- WILL BULLS BE LUCKY THE 4TH TIME?. 10-15% APPRECIATION POSSIBLE ON BREAKOUT. DAILY CHART ANALYSIS

The Daily chart of Punj Llyod is beginning to look interesting. Bulls are challenging a 7 month resistance trendline on the back of increased volumes. A breakout will open up targets of 69/76 in the coming months. CMP 60.5. A move below 47/48 levels will cancel the bullish outlook.

Will Bulls be 4th time lucky?














Mohan Raghav
CEO, Financial Markets Algorithms
Web: www.financialmarketsalgorithms.com
blog: fmatechnicals.blogspot.com/
Twitter: camohanraghav
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours

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