Short Larsen and Toubro: Shardul Kulkarni

Shardul Kulkarni of Angel Broking told CNBC-TV18, "Larsen and Toubro's (L&T) chart structure clearly shows a very strong bearish head and shoulder pattern, so we would recommend shorting L&T February Futures below the levels of Rs 970. The level of Rs 970 is clearly a trigger point, so below Rs 970 we would short the Futures contract with a stop loss of Rs 988 for a target of Rs 930 on the lower side. It is a positional call probably around seven-eight trading sessions."

The share touched its 52-week high Rs 1,152.40 and 52-week low Rs 678.10 on 09 December, 2013 and 28 August, 2013, respectively.