Buy Motherson Sumi, Emami, HCL Infosystems: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Motherson Sumi Systems had a sharp correction last month from the levels of Rs 390 to Rs 230 and in the month of October, it went through a period of consolidation. It was more of a base building activity and in last week's trade, it had a breakout from the same. Infact the stock is now building on that breakout which is a good sign. So buy it for a target of Rs 295." "The second recommendation is a buy on Emami. It is a classic case of buy on declines. the stock went through sharp correction in the months of August, September and October and thereafter it retraced 78.6 percent of the previous move. It took support in the earlier breakout point in the month of May. It tells us that the selling pressure has come to an end, infact a new rally is about to begin. Buy Emami for a target of Rs 1150," he added."Last recommendation is a buy on HCL Infosystems. We got the correction in the stock in the last two weeks of October, therafter it retracted 38.2 percent of the earlier move. The rally in the counter tend to be phenominal as well as we tend to see sharp declines in the counter. So buy the stock with a target of Rs 60," he added.