Buy United Breweries, Suven Life Sciences: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Last two months were miserable for United Breweries (UBL) as it fell from Rs 1,070 to Rs 830. But thereafter, the recovery process kicked in and this recovery took shape of a flag. Now, flags are generally considered to be a continuation pattern in nature and now if it breaks above Rs 965-970, we expect the earlier trend to continue. On the short-term chart, the stock is on the verge of breaking out from a bullish head-and-shoulder pattern. Also on the daily chart it is on the verge of breaking of 200-day moving average. So, the multiple patterns are telling us that this is the right time to buy for a target of Rs 1,010.""Strong uptrending counters tend to take a breather after a sharp rally, and then again resume its journey on the upside. Same is the case with Suven Life Sciences. The stock made a terrific rally from Rs 200 to Rs 310. Thereafter, it went through a period of sideways correction. In last week’s trade, it in fact gave a breakout on the upside. So, it is the right time to buy this counter, because the upside in this counter could be swift and fast. So, buy it for a target of Rs 305," he said.