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Weekly Trader Report
Cairn India Future Previous Close 342

Below Is The Daily Chart Of Cairn India Future

Technical Update:
Price: After moving sideways in consolidation cairn India broken out of its range
of 330-335 on upsides and made the high of 353.45 on Future levels. The Future
closed the week at 342.05. The breakout as can see from chat above was on very
high volume.

Cairn India Future Monthly Chart

As per monthly chart there is also a range shift which can be seen since price
moved out of the Bollinger band and is heading higher. However there is trend
line resistance which can be seen in monthly chart above. Stock Is Moving In A
Triangle Formation Which Shows Price Momentum On Upside. The RSI is trading
at 58

Trading Strategy: Open Long In Cairn India Future at 342 or in dips till 330 use
protective stop loss of 320 for a upside target of 400-440 In coming months.

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