Buy CESC, target Rs 800: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "CESC is a much better stock from the power space and it could provide swift returns going forward. For CESC it had a terrific 2014 and thereafter in the last four month it went through a period of consolidation. This consolidation eventually took shape of a classic inverted head and shoulder pattern. Now in today’s trade it attempted to break on to the upside. So, buy for a target of Rs 800."

The share touched its 52-week high Rs 828.10 and 52-week low Rs 408.50 on 16 September, 2014 and 30 January, 2014, respectively.