Offset long term capital loss with short term gain

No, LTCLoss cannot be setoff against STCGain.

Yes, CA Madhavi Pandit is absolutely right, but I want to add more i.e. the long term capital losses can't be set-off from any income. 

Because the LTCG are exempted under section 10(38), therefore its loss can't be set-off against any income. So, you have to pay taxes @ 15% under 111A on short term capital gains if you have been charged STT.