Aditya Agarwal of Way2Wealth told CNBC-TV18, "Cairn India is trading in a very narrow band of Rs 315-316 on lower side and Rs 324 on higher side. At current levels the stock is trading around its higher side of the range and we are seeing some long positions getting built up in the stock. If it breaks Rs 324 level we expect that this stock may test Rs 338 level."
"Above Rs 324, one may go long in Cairn India keeping a target of Rs 338 and stoploss at Rs 318," he said. At 13:41 hrs Cairn India was quoting at Rs 318, up Rs 0.45, or 0.14 percent. It has touched an intraday high of Rs 320.20 and an intraday low of Rs 315. The share touched its 52-week high Rs 349.90 and 52-week low Rs 267.90 on 22 January, 2013 and 28 March, 2013, respectively. Currently, it is trading 9.12 percent below its 52-week high and 18.7 percent above its 52-week low. Market capitalisation stands at Rs 60,748.87 crore. Also Read: 10th round of oil and gas block auction likely in JanuaryDiscover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
