Buy Reliance Infra, ABB, says Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Reliance Infrastructure is one of our top picks. I believe the momentum is back in the broader markets. Whenever we talk about strength in midcap space, ADAG Group stocks tend to do well. Reliance Infra is on the verge of breaking out of a seven month long consolidation channel. Last week the first time since February 2013 the stock has mananged to give a close above its 200 day moving average. It is going to see a sharp up move, buy for a target of Rs 460, may be in the next six trading sessions."

"ABB is on the verge of breaking out from a flag consolidation pattern. It had a sharp upmove in the second week of September, thereafter there was a phase of sideways consolidation taking shape of a flag pattern. As flags are continuation pattern in nature I believe the stock will start its previous uptrend above Rs 565. Buy the stock for a target of Rs 610," he said. Disclosure: We may have recommended these stocks to our clients but no personal holdings.