L&T may slip to Rs 1100: Sukhani

L&T may slip to Rs 1100, if it breaks Rs 1300 level, says Sudarshan Sukhani, s2analytics.com.
 
Sukhani told CNBC-TV18, “Larsen and Toubro (L&T) is cracking. We have seen all capital goods do the same thing. Bharat Heavy Electricals (BHEL) has been a very bad performer.”
 
He further added, “L&T’s downside target are at the very minimum Rs 1,300-1,250 – that’s the zone where some support will come in. The stock charts tell us that that level will come. It is not as if L&T is turning around and moving up. The trade here is to step aside, for professional traders look to short it. I am giving you a very optimistic support level if Rs 1,300 cracks then there is almost a free fall to Rs 1,100.”