Buy Liberty Shoes: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Each and every trend requires to go through a period of correction. Liberty Shoes got that correction in last 5 weeks. In fact it was more of a sideways correction because it took support at its 38.2 percent retracement of its previous upmove and thereafter it began a period of consolidation. Eventually it have a breakout from triangle pattern in today's trade. So, buy Liberty Shoes for a target of Rs 345."

At 13:34 hrs Liberty Shoes was quoting at Rs 324.20, up Rs 10.75, or 3.43 percent. It has touched an intraday high of Rs 326.20 and an intraday low of Rs 315.10.

Disclosure: We might have recommended these trading ideas to our clients but have no personal holdings.