Buy Tata Elxsi, target Rs 2,050: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Tata Elxsi is a classical uptrending stock. In fact it has been one of our favourites and from July 2015, the stock from virtually Rs 1,200 level went to Rs 2,300. Thereafter it retraced 61.8 percent and to begin a process of recovery eventually this consolidation took shape of a triangle pattern. In today's trade it has given a break out from the same. So, buy it for a target of Rs 2,050."At 15:18 hrs Tata Elxsi was quoting at Rs 1,947.10, up Rs 66.35, or 3.53 percent. It has touched an intraday high of Rs 1,970 and an intraday low of Rs 1,892.25.