Avoid Cairn India: Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The best trade is to avoid Cairn India till it either breaks out above that range or breaks down. Cairn has not done that for a month, it will do it eventually but sometimes the stock simply drifts, so then we get caught in a bad trade. I would avoid Cairn for now."

At 10:45 hrs Cairn India was quoting at Rs 325.60, up Rs 6.35, or 1.99 percent. It has touched an intraday high of Rs 325.80 and an intraday low of Rs 321.20.

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 6.94 percent below its 52-week high and 21.54 percent above its 52-week low. Market capitalisation stands at Rs 62,215.64 crore.