Technical Analyst, Rajat K Bose is of the view that above Rs 298, Cairn India can go upto Rs 320.

Bose told CNBC-TV18, "Cairn was yesterday’s star, it has moved pretty strongly, even yesterday it performed brilliantly but today it needs to stay above Rs 298 while the short-term technical target still remains at Rs 320 but you need to see whether Cairn stays above Rs 298. In case of any profit booking if it were to fall below that then you might see it even coming down to something like Rs 289-284."

He further added, "HOEC has completed its short-term correction and it is trying to move up. It maybe the second best star in the upstream oil companies’ space. HOEC from here may move up but its chart pattern is not showing as much strength as Cairn. So we need to see whether HOEC really carries this momentum. For that to happen you need to see HOEC moving above Rs 149. If it were to do so then Rs 157-163 would be the next target."
 
Disclosures: It is safe to assume that analyst and his clients may have an interest in the stocks/sectors discussed.