Sell Larsen & Toubro, Tata Steel: Rajat Bose

Rajat Bose of rajatkbose.com told CNBC-TV18, "Larsen & Toubro (L&T) is in a downtrend, there was a bit of a bounce and that ultimately morphed into a bearish flag and that flag breakdown has taken place now. It is headed for Rs 990 but as of now you can sell at current level or on a minor rally if at all that were to happen. Put a stop loss above Rs 1,095 and the targets would be Rs 1,064 and Rs 1,045. In fact, if you have a positional trade, any price is a good selling opportunity for L&T." "Tata Steel is unlikely to move up. The government came up with a safeguard duty, then minimum import price and nothing is going to help. It is actually going to go down. Earlier it was Rs 270, now it is Rs 258 which it is not crossing, so this is a sell and it is likely to go down to say about Rs 251, Rs 248 or Rs 244. It is not looking anything great," he said.