PUNJ LLOYD and L&T

PUNJ LLOYD is one of the worst performer Indian stocks. As you can see on the chart below, the Jiseki cycles are still bottoming sub 10% rankings, suggesting a potential positive reversal soon. The price structure also looks like a potential double bottom reversal (slide 2). As long as previous lows near 55 levels hold, we remain positive on the stock.
PUNJ LLOYD Weekly. The intermediate structure looks like a potential double bottom reversal formation with neckline resistances near 80 levels. The weekly RSI momentum is also non-confirming and sustains our case.

L&T Weekly. Prices reached key primary supports at 1,550 levels. The preferred view sees the current structure as a completing intermediate correction which should hold respective supports. Alternate, on the other hand, sees the current formation as a potential head and shoulders reversal which could push prices lower till 1,400-1,100 supports. However, this remains a low probability scenario for now.

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Coverage India: CNX100 traded stocks and Indian Indices.
Michesan Anna-Maria, Head of India Research. Anna discovered her interest of markets immediately after completing her graduate studies in Economics. She followed it up with post graduate studies in corporate finance. A host of research work in behavioral finance, option strategies and quantifying market sentiment followed. Anna covers Indian equity and combines Elliott, Time Fractals and Time Analytics to deliver accuracy across time frames. To review some of her work, check out the annual India accuracy report 2009.