Buy Sun Pharma, Mahindra Ugine: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Sun Pharma is a typical uptrending counter which was in the process of correction for last two weeks. In fact it has found support at 61 percent retracement and the same level also coincides with the 50 day moving average. For last three days the stock has been taking support hovering on the same support which is a strong sign. So buy Sun Pharma for a target of Rs 830."

"Mahindra Ugine was a classic example for range breakout. For last ten weeks the stock was locked in a trading range between Rs 355 and Rs 470. Now the stock has infact given a break out last week and despite its weakness in broader markets it is continuously trading over the same. It is again a good sign, so buy Mahindra Ugine for a target of Rs 530," he said.