Short Punj Lloyd: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com is of the opinion that one can short Punj Lloyd.

Sukhani told CNBC-TV18, "One cannot buy Punj Lloyd because it flew for one day, 13 percent gain. It is not a good idea, in fact if it rallies a bit more and stalls, it has to stall then it is a short sell. I think it is a perfect short sell. It is just entering into a resistance level, half a day of a rally and then consider going short."
At 10:45 hrs Punj Lloyd was quoting at Rs 45, down Rs 1.00, or 2.17%. It has touched an intraday high of Rs 46.00 and an intraday low of Rs 44.70.
The share touched its 52-week high Rs 64.10 and 52-week low Rs 39.00 on 09 January, 2013 and 04 March, 2013, respectively. Currently, it is trading 29.8% below its 52-week high and 15.38% above its 52-week low. Market capitalisation stands at Rs 1,494.43 crore.