Siddharth Bhamre, Head - Investment Advisory and Derivatives at Angel Broking is of the view that one may short Larsen and Toubro.
Siddharth Bhamre, Head - Investment Advisory and Derivatives at Angel Broking told CNBC-TV18, "I will short Larsen and Toubro at current levels. The stock has shown breakout and today's fall when it came after the Budget it was resembling as a false breakout. Again the stock has bounced back, this bounce back and has happened mainly because of short covering and we have not seen any fresh formation of long positions. There are still lot of short positions which are there in this market which were created around Rs 1750 odd levels. So, they are not far away from current levels. That is one stock I would short."
Larsen and Toubro ended at Rs 1,766.90, up Rs 8.35, or 0.47 percent. It has touched a 52-week high of Rs 1,800 on the BSE.