Buy PFC, advises Pritesh Mehta

Pritesh Mehta of IIFL recommends buying Power Finance Corporation as the stock may hit Rs 225.

Pritesh Mehta of IIFL told CNBC-TV18, " Power Finance Corporation (PFC) is a short-term trading idea. This stock has given an upside breakout after six weeks of consolidation. This stock had a terrific upside in the month of February and March. Thereafter, for six weeks the stock went into a consolidation at the top of its trend. Now, on Friday it gave a breakout. In today's trade the stock is sustaining that breakout and in fact building on more momentum. So, buy PFC for a short-term target of Rs 225."

On May 12, 2014 Power Finance Corporation closed at Rs 211.50, up Rs 9.95, or 4.94 percent.

Disclosure: Analyst must have recommended these trading ideas to his clients but has personal holdings.

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