Jul 26, 2013, 03.27 PM IST | Source: CNBC-TV18

Invest in Voltas, says Pritesh Mehta

Pritesh Mehta of IIFL feels that one may invest in Voltas from a long-term to medium-term perspective. "Above Rs 84-85 the stock could head towards the Rs 93-94 mark and maintain a stop loss at Rs 80," he adds.

Pritesh Mehta

Senior Technical Analyst, IIFL

More about the Expert...

Pritesh Mehta of IIFL told CNBC-TV18, " Voltas is one of the midcap counters which we are bullish from medium-term perspective. If one wants to takes a position from a long-term to medium-term horizon this particular stock is worth investing in."

"From Rs 96 levels it found support around Rs 80 and right now it is breaking out from a rectangular consolidation pattern. So, above Rs 84-85 the stock could head towards the Rs 93-94 mark and maintain a stop loss at Rs 80 for the same," he said.

The share touched its 52-week high Rs 138.50 and 52-week low Rs 73.25 on 27 September, 2012 and 22 March, 2013, respectively. Currently, it is trading 39.82 percent below its 52-week high and 13.79 percent above its 52-week low. Market capitalisation stands at Rs 2,757.92 crore.

READ MORE ON  Pritesh Mehta, IIFL, Voltas
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