buzzing stocks-CAIRN above 137 remain buy on dips tgts 147-155

Cairn India Limited future chart Cairn India Limited stock is trading at 140 with 4% drop. Stock is top loser in F&O segment.   Technically CAIRN stock is in uptrend and traders must use this correction to buy and accumulate. On downside 137 is major support and above it short term outlook for stock will remain bullish. Targets are 147 and 155.   Below 137 on closing basis expected fresh downtrend for targets 130 and 119.   From medium term view, stock is in strong recovery mode and my medium term target is at 165 rupees.   Future traders above 137 keep buy and accumulate view and keep expiry targets around 147 and 155. Option traders on decline use CAIRN 140 call options as buy and accumulate.

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Pramod Baviskar

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