Buy Reliance Communications, target Rs 84: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Reliance Communications (RComm) was struggling to cross the barrier of Rs 73 since February 2015. In fact in a week's trade the stock finally managed to clear this hurdle. After the breakout the stock is sustaining above the same. In the week it has given a breakout from a rounding bottom pattern. The downside movement that we had in last couple of months is getting over and the stock is about to resume a new rally altogether. So, buy it for a target of Rs 84."At 14:51 hrs Reliance Communications was quoting at Rs 74.60, down Rs 0.70, or 0.93 percent. It has touched an intraday high of Rs 77.10 and an intraday low of Rs 74.30.