Buy Tata Motors at around Rs 490-495: Monal Desai

Monal Desai of Sunidhi Securities told CNBC-TV18, "In Tata Motors yesterday we saw very strong pull back from Rs 493-495 and today it opened Rs 10 up, but yes the momentum has built up pretty strong. I see a target of Rs 530 on Tata Motors, so a trailing stoploss would be at Rs 497 and incase we trail below that and if you want to hold for a longer-term perspective, keep the stoploss at Rs 475 and buy around Rs 490-Rs 495 again. Longer-term targets do stay intact and you could add at lower levels."

At 12:37 hrs Tata Motors was quoting at Rs 506.30, up Rs 12.30, or 2.49 percent. It has touched an intraday high of Rs 508.20 and an intraday low of Rs 501.55.