Enter GMR Infra around Rs 42: Jitendra Mehta

Enter GMR Infra around Rs 42, says Jitendra Mehta, AVP Institutional Equity, Edelweiss.

Mehta told CNBC-TV18, "Infrastructure in last few days has been trending up and after a long slump; we have started seeing some kind of strength coming in the infrastructure space. This correction gives you a good opportunity to enter long. I think even market is now just coming down on some profit booking and some fatigue, which would have crept in once we found it difficult to cross higher levels. So I think this would be a good opportunity to trade long, if one would have missed out the early part of the infrastructure rally."

He further added, "The sector looks poised to go much higher. So I think one can take your pick way single out GMR Infrastructure and Suzlon as two total midcap trading ideas. A good level to enter GMR would be around current prices only around Rs 42, trading stop loss of Rs 38 and upside price target around Rs 60 should be looked for."