Exit L&T at around Rs 1400: Nooresh Merani

Nooresh Merani of Asian Market Securities told CNBC-TV18, "If you look at Larsen and Toubro (L&T) technically, over the last one year, Rs 1,400 to Rs 1,450 levels were a strong support which were broken in the last month. So what we are looking at is any pullback to similar levels given the recent pullback from Rs 1,250 levels, the stock can pull up to Rs 1,400 and that is where the traders should exit the stock and stay away from it.""As of now it is in a downtrend. Minor pullback to Rs 1,400 should be used to exit the stock," he added.