Buy SREI Infrastructure; target at Rs 24-25: Pritesh Mehta

Pritesh Mehta of IIFL told CNBC-TV18, "Anil Dhirubhai Ambani Group (ADAG) stocks tend to do well whenever there is momentum in the broader markets. We have already seen participation from Reliance Infra and Reliance Power , but I am expecting Reliance Capital to join the rally. The stock has given a triangle breakout. It has also given a breakout above its 200-day moving average. Buy at current levels for a target of Rs 390."

"Our second pick would be SREI Infrastructure Finance . It is not a short-term trading opportunity or even a two day trade, but in fact it can also be a positional trade. The stock appears to be breaking out from a long sideways consolidation between Rs 17 and Rs 21. It has also given a breakout from a falling wedge pattern. Buy for a target of Rs 24 and Rs 25," he added.

"Our third and last pick would be Punj Lloyd . The stock broke out from an inverted head and shoulder pattern in the second week of October. Thereafter it went through a mild correction. It found support at the earlier breakout point and then it gave a flag breakout. The stock is up by 3-4 percent and expects a follow-up buying to come through in the counter. You can expect target of Rs 33-34."

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