Mitesh Thakkar, VP, Private Client Group, Edelweiss is of the view that Cairn India is a good stock and can go up to Rs 318-320.

Thakkar told CNBC-TV18, “There was a lot of action in the oil sector this week and Cairn India has been enjoying very good momentum. We have been slightly positive on the stock because it made a new high, so technically that’s a good breakout and the price targets are yet to achieved. We are looking at an upside of around Rs 318 to Rs 320 on the stock. It is a good stock.”