Buy Godrej Properties, says Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "We need to have a slightly longer perspective in Godrej Properties because in the last week of August, this stock broke out from a bullish head and shoulder pattern and this breakout took place after consolidation of more than three years. Despite the carnage in the month of August and later on in the first week of September, the stock held above these breakout level and neckline of this head and shoulder pattern.""On multiple timeframe, the stock is making a pattern of higher highs and higher lows. I think it is the right time to buy for a target of Rs 415, but we need to keep a perspective at least four to five weeks," he said.