Anil Manghnani of Modern Shares & Stock Brokers is of the view that Cairn India has support at Rs 238.

Manghnani told CNBC-TV18, "Although Cairn India has rallied throughout this fall also and has not really fallen but the major problem what happened to the stock is that when went and hit pretty much a double top. When the market was at 21,000, this stock was Rs 268-269 was the high, which it did last week or the week before. So it could not go and takeout that Rs 268-269 sort of highs and normally when one has a double top, the falls tends to be a lot more or at least more vicious, so I think on this fall Rs 238 could be the first support. If it breaks that then even Rs 219 is possible."