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Short Larsen and Toubro: LKP
12 Dec 2011 03:21 PM | Source: CNBC-TV18
Short Larsen and Toubro: LKP
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Short Larsen and Toubro (L&T), says Kunal Bothra of LKP.

Bothra told CNBC-TV18, "L&T was the most beaten down stock, it had a very strong rally from Rs 1200 to Rs 1340 levels and after that it has come back to below that Rs 1200 levels. So the stock is showing an indication that it is still not out of the woods."

He further added, "The selling pressure is still there intact in this. So I would probably go ahead and short L&T. I would again wait for a crucial support to be broken on L&T which is close to that Rs 1150-1155 mark. If the stock manages to break that you might easily get that Rs 70-80 which is 7-8% on L&T."

Disclosure: No personal holdings on the above stock but at LKP we keep recommending it to our clients.

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