Above Rs 160, Cairn may touch Rs 180-185: Sukhani

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Above Rs 160, Cairn may touch Rs 180-185: Sukhani

Technical Analyst, Sudarshan Sukhani is of the view that above Rs 160, Cairn India may touch Rs 180-185.

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Excerpts from Bazaar on CNBC-TV18 Watch the full show » RELATED NEWS Hold Cairn India: Ask Securities Buy Cairn India; target of Rs 185: Citigroup Stay away from Cairn: Shenoy Cairn has resistance at Rs 146-147 Cairn a good long term buy: PN Vijay ALSO READ See previous views by Sudarshan Sukhani See what other Experts & Brokerages are saying about Cairn India See messages about Cairn India Cairn India BSE | NSE 28/05/12 Are Mutual Funds betting on Cairn India? Other Stocks in this news Hindustan Construction Company | Punj Lloyd |

Technical Analyst, Sudarshan Sukhani is of the view that above Rs 160, Cairn India may touch Rs 180-185.

Sukhani told CNBC-TV18, "The construction is going up; after that correction and consolidation, it has broken out. So far as it keeps on going up, whether it is Punj Lloyd or HCC or any of the other companies, I would be upbeat on that. Again the exact point at which to buy is a different issue but traders should be looking to go long in this sector."

He further added, "Cairn has come out of a long depression or consolidation, it has never really gone upto Rs 160, its issue price, maybe it will do that and if it does that then I would expect that the consolidation break out should take it to Rs 180-185 also. I own shares in Cairn."