Buy L&T, advises Mithil Pradhan

Mithil Pradhan of Violet Arc Global Managers told CNBC-TV18, "There are two ways to look at Larsen & Toubro (L&T). One is it is almost at a lifetime high and that it has broken out of a triangle which took about eight years to complete. So, we are looking at L&T to move anywhere above Rs 2,000-2,100 over a period of time. Now even in the short term for the last 6-7 months, L&T was creating a rounding bottom pattern which has been taken out and the level is the same around Rs 1,740-1,750."

"Since L&T has come back to this particular level it really becomes a buying opportunity for a target level of Rs 2,100 to Rs 2,200 approximately. So I would definitely recommend to buy this stock," he said.