Sukhani upbeat on Cairn India

Technical Analyst, Sudarshan Sukhani is upbeat on Cairn India.

Sukhani told CNBC-TV18, "Cairn India is going down, it is directly related to the price of crude, I am not sure. It has fallen by almost 35%, crude hasn’t done that. That also means that if and when crude starts it’s rally again and it will also go up in the same proportion. So it is a buying opportunity for traders on any initial sign of strength, for an investor there is no need to wait for that sign these are good levels to enter the stock. I am very upbeat on it."

He further added, "RPL is a different issue. The stock itself seems to be stuck inside a range and it keeps on pushing on the downside, I am not sure what is happening there but I wouldn’t advise any investing and for traders the opportunity might come on the short side on any rally."