Cairn India a good long term bet: SP Tulsian

Cairn India is a good long term bet, says SP Tulsian, sptulsian.com.
 
Tulsian told CNBC-TV18, “Cairn India is a right stock and a staggered way of buying it seems to be the right strategy to start with because crude prices are softening. Cairn India being a crude producer they will be impacted because ultimately the realisation always to them is at the import parity prices and they will be realizing lower. I will advice to keep a target of Rs 280.”
 
He further added, “If one wants to be a little aggressive investor you can buy 50 percent of your quantity which you intent to buy. And if one wants to be a little conservative let it be 25 percent. For may be 25 percent in four tranches with fall of Rs 5 on each price level can be bought. So start buying at Rs 280 and look to buy up to Rs 270. I don't think the stock can really fall below this but yes the long-term investors will eventually have to evolve this strategy only because nobody can time the market and as I said you have picked up the right stock which is a very good stock from a long-term point of view. So start buying from a level of Rs 280 in a staggered way.”