Jan 12, 2017 09:56 AM IST | Source: CNBC-TV18

Buy UltraTech Cement, Federal Bank, Axis Bank: Yogesh Mehta

Yogesh Mehta of Motilal Oswal Securities is of the view that one can buy UltraTech Cement, Federal Bank and Axis Bank.

Yogesh Mehta of Motilal Oswal Securities told CNBC-TV18, "In the largecap sector, we have UltraTech Cement as a buy. Post the consolidation now, it is in the consolidation range. We are looking at Rs 3,310 as the support level, as a stop loss on the trading bet and with a target of Rs 3,430." 

"On the banking side, in Federal Bank Rs 70 should be the stop loss for the trade and target would be Rs 77," he said. 

"Third one would be Axis Bank. It has not participated much in this banking rally but yesterday it has closed above moving averages of Rs 452. So, Rs 453 is the current price on the future front; one can look at buying this stock with Rs 445 as a stop loss and target would be Rs 470."
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