IIFL is bullish on Cairn India and has recommended buy rating on the stock with a target of Rs 358 in its January 19, 2011 research report.
The daily chart of Cairn India depicts a bullish Inverted Head and Shoulder bottom formation with prices consolidating above the neckline support levels of Rs 340 in last few trading sessions. Slope of neckline of inverted head and shoulder pattern signifies strength as a flatter neckline signifies inherent strength in the rally. Yesterday
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