Hold Sintex Industries: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "One needs to hold Sintex Industries. It has given a strong breakout from an ascending triangle pattern in the first week of January. Thereafter post that breakout it went to the levels of Rs 40-41 and then the period of retracement began. The stock is again placed at the same breakout point. Now it is consolidating around Rs 35-36 levels for last couple of days which also coincides with the support of its 200-day moving average."

He further added, "The stock is going to build a base around the current levels and again it will resume its previous upmove. So if we are able to surpass the previous peak of Rs 40-41 then we expect a sharp upside till Rs 45-46. So I think one needs to hold on with a stoploss of Rs 33 and expect decent returns in this counter."

Disclosure: He may have recommended the above stock to his clients, but no personal holdings.