Cairn India may head lower, says Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "The opportunity exists in Cairn India as it does in almost all public sector banks except a few but the problem is of tactics. If you sell now then do not expect prices to go further during the day. These are not short-term trades but yes, Cairn is probably heading lower from here. However, if one is having patience for few weeks then one will make money."

At 11:03 hrs Cairn India was quoting at Rs 216.20, down Rs 9.50, or 4.21 percent. It has touched a 52-week low of Rs 216.10.