Exit Punj Lloyd: Kulkarni

Shardul Kulkarni of Angel Broking is of the view that one should exit Punj Lloyd.

Kulkarni told CNBC-TV18, “It is best to sell and move out Punj Lloyd. Yes, it has given a good recovery. If you see in terms of percentage, it is about 25 percent move from the lows, Rs 39 to Rs 49 about 20 percent. However, I think it is best to move out because overall if one sees the chart structure, the highs from Rs 63 to Rs 39 was a strong down move. So, we are seeing a pullback on a larger degree trend. I would not be bullish on this, already the move is there and the stock is up at the higher end of the Bollinger band. It is best to sell and move out.” Disclosure: It is possible that we have positions in the stock discussed and we have recommended them to our clients.