Cairn India may touch Rs 345-350: Abhijit Paul

Abhijit Paul, Founder of Alphative Advisors LLP told CNBC-TV18, "We like the kind of volumes that Cairn India has panned out over the last fortnight. The underlying trend across all the timeframes are still up and holding okay. It has been within a range for quite sometime and with the recent three day move it is trying to inch forward up."

"I sense that Cairn has the potential to extend little up. From a short-term point of view I have a target of Rs 345-350 and for such a trade one should use a strict stoploss close to Rs 318," he said. Disclosure: I do not hold the stock that we have mentioned, but we do have recommended the stock to our clients.