Sanjeev Agarwal, CEO of Dynamix Research & Capital Management told CNBC-TV18, "Right now the market has very little upside though we should get some bounce back once this downward leg gets over, I do not think this is going to be very significant upside."
"Rs 1,470 is a very good level to exit Larsen and Toubro (L&T). If it is able to cross Rs 1,475 and holds above it and sustains strongly, we may see a level of Rs 1,550 but I do not see levels coming above Rs 1,600 in the near-term. If one is a long-term investor, then one can buy it again at a much lower price. Somewhere around Rs 1,000 will be a very good price to enter into L&T, " he said.