Cairn India can cross Rs 300: Gujral

Technical Analyst, Ashwani Gujral is of the view that if Cairn India able to go above Rs 270 then it can cross Rs 300.

Gujral told CNBC-TV18, "PSU midcap banking looks particularly strong and UCO Bank could be headed for a target of Rs 65 and particularly on days when the largecaps aren’t doing much this is a perfects stock, perfect group where traders can punt around."

He further added, "Oil and gas group continues to remain extremely strong and Cairn India is almost at all time highs which is at about Rs 270 and in case we are able to go above Rs 270 it will go to Rs 300 plus and so anyone who wants to play oil and gas, Cairn India is a good stock. It has out performed the Nifty, it has out performed the oil and gas space, and so with an Rs 240 stop people can be long in this."

Disclosure: It is safe to assume that analyst and his clients may have an interest in the above stock/sector.