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Mar 16, 2017 09:12 PM IST | Source: CNBC-TV18

Buy Dewan Housing Finance, Ceat, Dr Reddy's Labs: Yogesh Mehta

Yogesh Mehta of Motilal Oswal suggests buying Dewan Housing Finance, Ceat and Dr Reddy's Labs.

Yogesh Mehta of Motilal Oswal told CNBC-TV18, "Yesterday, we have seen a spectacular run in Dewan Housing Finance and will continue further. Currently it is quoting at Rs 347-348 level in the future segment. We are looking at Rs 365-370 as a price target keeping a stop loss at Rs 340 as it has given a good breakout above Rs 336 level yesterday."

"Secondly, we are looking at Ceat which has done spectacular run yesterday. Rs 1,217 was the immediate hurdle post a consolidation and now again at Rs 1,255-1,256 can be continued in the next few sessions till Rs 1,330-1,340 level keeping a stop loss of around Rs 1,215 level in the spot," he said.

"The third one we are recommending is Dr Reddy’s Labs, the stock has been beaten down with many of the pessimism around the corner. It has created double bottom around Rs 2,700 level last week. Currently, it is quoting at Rs 2,755-2,760 on the future segment, keeping a stop loss of Rs 2,715, one can look at Rs 2,830 to Rs 2,850 as a price target."
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