Buy Biocon, Finolex Cables: Pritesh Mehta

Pritesh Mehta, Senior Technical Analyst at IIFL told CNBC-TV18, "Our first recommendation is a buy on Finolex Cables. The stock is embarking up on a new journey altogether after two months of sideways consolidation. This consolidation was in place after terrific run up. In fact the stock rallied from Rs 75 levels to Rs 220. In today's trade the stock has given a breakout on the upside. So, buy for a target of Rs 245."

"Our second recommendation is a buy on Biocon. This particular stock has been a big underperformer. In fact we believe the stock has done with its corrective phase and has resumed its previous uptrend. So, Biocon has given a breakout from a triangle pattern on long term charts as well as a breakout from the falling wedge pattern on the short term charts. So, buy Biocon for a target of Rs 500," he said.