Feb 06, 2013, 10.24 AM | Source: CNBC-TV18
Short Cairn India, says Sudarshan Sukhani of s2analytics.com. For the short-term traders, the sense of direction is that Rs 320 is breaking down and the next target could be Rs 308 or even Rs 300.
Sudarshan Sukhani (more)
Technical Analyst, s2analytics.com | Capital Expertise: Equity - Technical
Sukhani told CNBC-TV18, "Cairn India is a horrible chart. It went up 30 points, it comes down 30 points and it is giving us a no sense of direction.”
He further added, “For the short-term traders, the sense of direction is that Rs 320 is breaking down and the next target could be Rs 308 or even Rs 300. It is not a big move but it is a tradable opportunity. Cairn India is a short sell simply because it is now moving in a trading range and as we speak, it is probably heading towards the lower end.”
Disclosure: I have no holdings or interest in the stock discussed.
Axis Direct recommended hold rating on Cairn India
Mitessh Thakkar of miteshthacker.com is of the vie
Ashish Kyal of Waves Strategy Advisors advises buy
ICICI Direct recommended hold rating on Cairn Indi
The company has reported forex loss at Rs 79 crore