Cairn India Limited long term buying opportunity

Cairn India Limited stock today was a top loser on nifty with almost 7% decline. Decline crude taking stock with it to bottom. The stock is heading towards 52 weeks low of 120 rupees. From short term view, trend channel suggesting 119-120 levels as a target for this fall. On upside 131 level remain as reversal point. Stock on the monthly chart shows its strong bearish trend. In last 18 months stock given only 3 positive monthly closing and 15 negative closing. Nevertheless, it is buying and accumulation opportunity for investors. On the upside, one can follow buy on the decline with a minimum 12-month target level of 180 rupees. Technically stock prices on monthly charts are oversold area and indicators are sending early bottoming signals. Cairn India Limited stock monthly chart

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Pramod Baviskar

Professional Market Trader And Owner Of Dalal Street Winners Advisory And Coaching Services. Working Since 2007 And Online Presence Since 2010. We Provide Highly Accurate And Professional 1 Entry And 1 Exit Future, Option, Commodity, Currency And Intraday Stock Tips On Whatsapp With Live Support And Follow Up.
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