Hold Tata Motors, says Mohindar

Rahul Mohindar of Viratechindia is of the view that one can hold Tata Motors.

Mohindar told CNBC-TV18, "In Tata Motors I think a trading bottom has been found, Rs 120 to Rs 130 that is an area that is the bottom, which should probably stay for a couple of months. I think it is an interesting spot because we have got very good support when we go back into decades of history. My sense is from here this is not a level where you want to definitely short such a stock, which is already been beaten down 80-90%. So I think definitely it is a hold, its probably a buy on declines, from a short to medium-term if I am above Rs 150, which I am for the last couple of days, Rs 150 would work as a trend decider. So since we are above that one is fairly comfortable, one could head into Rs 220-230 as a target from a 3 to 6 months type of perspective. So I would probably hold a buy on declines with a stoploss much below Rs 150."