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Vibhav Kapoor of IL&FS Investmart is of the view that from short term timeframe Larsen and Toubro, Reliance Industries are looking expensive.

“For everything it depends on what timeframe we are looking at. If it is going to be a four-five year bull market then no stock would be expensive even at current levels if you are looking at FY11-FY12. But if you are looking for a slightly shorter timeframe then L&T as well as Reliance and a lot of other stocks are definitely expensive at this point of time. Markets always do give a chance; even in the best of bull markets, you have corrections, which can range from 15-20% from time to time. So you need to have some patience and I am sure that in the next two-three-four months, you will certainly get one chance to buy them at lower levels.”

Source : MoneyControl

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