Exit Motherson Sumi at around Rs 270-290: Nooresh Merani

Nooresh Merani of Asian Market Securities told CNBC-TV18, "Technically when we look at Motherson Sumi now after the big fall in the last few months now it will be forming a new range closer to Rs 220-230 on the lower side. On the higher side Rs 270-290, so I would suggest an exit whenever the stock goes to Rs 270-290 in the short-term or even in the medium-term. It would be our view hold at current levels and view at Rs 270-290 to exit."At 14:49 hrs Motherson Sumi Systems was quoting at Rs 246.70, down Rs 2.40, or 0.96 percent on the BSE.