Sunday 5 October 2008

Buy Cairn India at lower levels: Bose

Technical Analyst, Rajat K Bose is of the view that one can buy Cairn India at lower levels. Unless Rs 185 is broken at lower levels, one will see some buying interest coming back as it has lot of support there, he added.

Bose told CNBC-TV18, "Cairn India has got a lot of support between Rs 196-185 kind of level unless Rs 185 is broken at lower levels, you will see some buying interest coming back. On the other hand, unless it actually moves above Rs 220 decisively, you won’t see much of a rise here as well. So at lower levels, you may think of buying it again. Since you have on the one hand, the oil-marketing companies on the other hand, Cairn India now I would say if you have to go long focus on oil-marketing companies rather than Cairn India because I feel until November 4, oil would not be showing much of a strength."

Source: MoneyControl

Posted by Harsh at 21:10

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)
DISCLAIMER: The author is not a registered stockbroker nor a registered advisor and does not give investment advice. His comments are an expression of opinion only and should not be construed in any manner whatsoever as recommendations to buy or sell a stock, option, future, bond, commodity, index or any other financial instrument at any time. While he believes his statements to be true, they always depend on the reliability of his own credible sources. The author recommends that you consult with a qualified investment advisor, one licensed by appropriate regulatory agencies in your legal jurisdiction, before making any investment decisions, and that you confirm the facts on your own before making important investment commitments.