Rahul Mohindar, viratechindia.com advises to sell L&T around Rs 1360-1370 with a stop loss of Rs 1395.
Mohindar told CNBC-TV18, “One call would be to look at selling something like Larsen and Toubro (L&T). The market continues to look weak. The sectors are still looking weak. One could look at selling into L&T in the short-term. Price target on that would be around Rs 1,300 which you could expect in this series. Rs 1,395 would be my stop loss on this trade ideally is sell between Rs 1,360-1,370.”
On April 05, Larsen and Toubro (L&T) closed at Rs 1,348.75, down Rs 12.70, or 0.93 percent. It has touched an intraday high of Rs 1,371.40 and an intraday low of Rs 1,341.50.