Sandeep Wagle, Founder & CEO at powermywealth.com told CNBC-TV18, "Punj Lloyd
is bottoming at around Rs 18-19 but upside is limited. I don’t see Rs 26 being crossed that is a very strong resistance, so around Rs 22-24 somewhere in between that one should exit. I don’t see Rs 26 being crossed that easily and on the downside if Rs 17.50 is broken the stock can go even lower to Rs 12.30, so that should be a stoploss."
At 14:50 hrs Punj Lloyd was quoting at Rs 20.50, up Rs 0.45, or 2.24 percent on the BSE.