Sell Cairn India on rally: Sudarshan Sukhani

Sell Cairn India on rally, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "I was a big fan of Cairn India but it has broken down from a distribution pattern, a very bearish pattern. The pattern targets are Rs 260. I do not know if Cairn is going to go to Rs 260. However, I do know that at every opportunity including now, Cairn is a short sell. You see a small rally and I would be saying sell it."
The share touched its 52-week high Rs 400.95 and 52-week low Rs 296.60 on 22 February, 2012 and 15 February, 2013, respectively.Currently, it is trading 23.33% below its 52-week high and 3.64% above its 52-week low.
The company's trailing 12-month (TTM) EPS was at Rs -1.12 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was -. The latest book value of the company is Rs 167.13 per share. At current value, the price-to-book value of the company was 1.84.