Buy L&T @ Rs.1661 for intraday target of Rs.1680; stop loss Rs.1652

L&T has fallen from Rs.1980 to Rs.1660 in just 15 trading days, but it is still waiting for a dead cat bounce. The equity traded in green for the most part today. There is a good chance that it will have 1-2% rise tomorrow and the target of Rs.1680 seems feasible. Not only this, a smart investor should start accumulating this equity as it has already fallen 25% from its high.