Buy Tata Motors, says Nooresh Merani

Nooresh Merani of Analyse India told CNBC-TV18, "If we look at Tata Motors, on the short-term charts, it has given a breakout from a downward channel around Rs 340-350. So, in the near-term we could see much more momentum once it starts sustaining above Rs 355-360 levels with an upside target of Rs 400-420. So, if it is an ultra short-term view, one can keep a stoploss at Rs 330 and if one is looking at a medium to longer term outlook, one can keep a stoploss at Rs 300 and accumulate the stock at current levels. So, we like the stock at current levels but the horizon and the stoploss should be accordingly placed."At 15:05 hrs Tata Motors was quoting at Rs 347.05, up Rs 1.50, or 0.43 percent on the BSE.