Trrading calls:Punj Lloyd and Mercator Lines Limited

Punj Lloyd 

Punj has been mauled by bears out of shape and Legend Investor also exciting its stake in the company well i will not be the right person to comment on fundamental  of Punj  but technically speaking its looks ripe for a bounce. 

As shown in above Hourly chart Trend line Resistance@63.75 and Support @61.85 on hourly charts. 

Move above 63.75 should be used to intiate longs with tgt of 64.3 and 64.7 

Close above 64.3 will be considered Bullish for the Stock in near term and can rally till 20 SMA@67.8

Buy above 63.75 Tgt 64.3,65,66 and 67.8

Mercator Lines Limited

As Baltic Dry Index is hitting new highs MLL can see a good run up in coming few sessions as stock is forming higher bottoms on hourly charts but failed to cross the high of recent 39.65

Stock should start moving up once it crosses 39.65

Buy above 39 Tgt 39.65 40.3 and 41.5