Exit Cairn India, says Kunal Bothra

Kunal Bothra of LKP Securities told CNBC-TV18, "The investor had to have a stoploss even if it is a long-term investment call. At this price, looking at the way Cairn India has behaved over the last five years, generally, we feel that in the short-term perspective, the stock may see bounces. But if you look at the way the stock has panned out over the last five years, I believe that the stock has started a significant downtrend."

"One can exit Cairn India and probably shift to some other stock. What I would recommend is look at something like Larsen and Toubro. The stock is looking very attractive. If you are looking at it from a medium term perspective, then you can also look at midcap name like Dish TV which looks very attractive of Rs 107-108. I believe a timeframe of almost six months would be a good enough time frame and the upside potential for the names which I discussed, Larsen and Toubro and Dish TV could be as much as 15-25 percent respectively," he added.