Good time to enter in L&T; may test Rs 1400: Kulkarni

Kulkarni told CNBC-TV18, "From a trading perspective I would go long in Larsen & Toubro (L&T), as the chart structure is very bullish. The stock is giving a small corrective move towards the 38% retracement which comes in around Rs 1,270-1,275."

He further added, "It is a good time to enter into the stock, one can probably add on to positions once the stock moves to about Rs 1,340, but at least from a trading perspective, any decline in L&T, should be used to buy. We would be bullish in case of the stock and expect it to test Rs 1,400 in the next couple of trading sessions. In ICICI Bank , the stop loss would be at Rs 805, if stock breaks the level of Rs 805, I think it will lose a lot of momentum that it has gathered over the last six-eight trading sessions."