Sell Vedanta; buy Dr Reddy’s Lab, Dewan Housing Finance: Yogesh Mehta

Yogesh Mehta of Motilal Oswal told CNBC-TV18, “We are recommending sell on Vedanta, and currently price is Rs 236-236.50 in the future segment and Rs 240 should be the stoploss and keeping a target of Rs 228.”

“On the buy side, we are recommending Dr Reddy’s Laboratories which has given a good momentum above Rs 2660 level and currently it is quoting at Rs 2696 levels in futures, one can initiate a buy with a stoploss of Rs 2665 with a price target objective of Rs 2740-2750 level.”

“In Dewan Housing Finance there is strong run up since last few session and still is continuing, Rs 444.50-445 is a price right now, keeping a small stoploss of Rs 440 and one can look at Rs 454-455 at the target,” he added.