Watch the interview of Pritesh Mehta of IIFL with Ekta Batra & Mangalam Maloo on CNBC-TV18, in which he shared his readings and outlook on market and specific stocks.
Below is the verbatim transcript of Pritesh Mehta's interview with CNBC-TV18
CESC
"CESC is a classic bottoming out stock because in April it had given in a range breakdown. It made a low of Rs 525 and thereafter built a flat base for the entire month of April. It was infact moving lower and consolidating. On Friday it has given a breakout from the consolidation pattern and we can see a breakout taking place from a falling wedge pattern. So it is a right time to look at this counter. We can see levels of Rs 620."
YES Bank
"YES Bank is on the verge of making lifetime highs. The fact is that the stock for the last 10 weeks was consolidating at the top with a strong uptrend in counter. Above Rs 865 the stage is set for the stock to go higher, may be in 7-8 trading sessions we can see levels of Rs 900."
KRBL
"KRBL certainly falls in to classical uptrending counters. When a market likes some kind of ammunition to break through a strong resistance barrier we should focus our attention towards midcap market index. We like KRBL, it is in strong uptrend since 2013. The stock has not gone even through a big correction or consolidation. Since March 2015 we are witnessing sideways correction. So, it found support at rising trendline and again it consolidated and moved in a triangular pattern and attempted to breakout from it. So buy the stock for a target of Rs 185."
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