Buy Andhra Bank, target Rs 74: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "One can buy Andhra Bank. In this kind of phase of turmoil we will always keep getting stocks which are providing signs of reversal. Andhra Bank falls in that particular category. In last three weeks of selling it made a low of Rs 61 and bounced back. On two occasions back in May 2014 and September 2014, the stock found support at the same level and provided a strong recovery. Also on the short-term charts it has given a breakout of falling wedge pattern. So this is the right time to buy this counter. Buy Andhra Bank for target of Rs 74."At 15:00 hrs Andhra Bank was quoting at Rs 67.90, up Rs 1.55, or 2.34 percent. It has touched an intraday high of Rs 68.10 and an intraday low of Rs 65.60.