Pritesh Mehta of IIFL told CNBC-TV18, "Cairn India from a long-term perspective is worth investing into because it is on the verge of breaking out from a triangle formation on the weekly chart. The consolidation was for more than 7 to 8 months and it is on the verge of breaking out from 200 weekly moving average."
"Last few weeks when the broader market was in turmoil the stock was building base around Rs 290 levels, so I feel above Rs 310-312 the stock can take off and we can expect a target of Rs 350 in maybe 3-4 weeks," he said.
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