Buy Tata Motors, advises Sahil Kapoor

Sahil Kapoor of Edelweiss RCM Research told CNBC-TV18, "Tata Motors is a stock, which indicated the market is turning bullish for auto stocks and this is still the leader. It saw a very strong breakout with a gap up opening above Rs 400 and it has just consolidated for the last three-four days."

"Today's fall is possibly a consolidation phase and it is a good entry point and closer to Rs 406, one should enter the stock. The support at Rs 395 is very strong and I think that there is a lot of committed buying from bulls at that level. So one may keep a stoploss below that level and target levels of about Rs 430 in the short-term. So it is a good buy," he said.