Short Cairn India, says Sudarshan Sukhani

Sudarshan Sukhani of s2analytics.com told CNBC-TV18, "We became bearish on Cairn India only when it fell below Rs 300. At this point the trade is to be short in Cairn. There is no sign of revival, there is no sign that it is coming back. We will just go with what the trade is."

At 09:44 hrs Cairn India was quoting at Rs 196.70, down Re 0.65, or 0.33 percent. It has touched a 52-week low of Rs 196.25.