Siddharth Bhamre of Angel Broking told CNBC-TV18, “Firm crude oil price and depreciating rupee may act as a positive for Cairn India. We have seen huge formation of positions in the range of Rs 295 to Rs 300. The cost of carry indicates that it is basically formation of long positions. So, I believe it is a good buy at current levels.”
“This stock has good support around Rs 290-295. One can go long. We are expecting targets somewhere around Rs 318 and we have fixed a stop loss somewhere around Rs 295,” Bhamre said.
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