'Target Rs 330, stop loss Rs 291 for Cairn India'

ET Now caught up with Anu Jain, Vice President, IIFL Private Wealth Management, India Infoline, to get her views on the outlook of Cairn India.

What's your opinion on Cairn India? If I were an investor who possibly got this stock at say a price of around Rs 290, should I stay on with it or should I just go ahead and take my profits off the table?

Fundamentally, we have a positive bias on the stock. Technically, it's definitely looking good but I would say that if you are holding on to the stock, you should continue to hold on. If I look technically, the swing call on this target is about Rs 330 and I would keep a trailing stop loss. So, it would basically be raised everyday, but right now, the trailing stop loss is about Rs 291, which is right where your cost is. So, I would continue to hold on with a positive bias. If I want to basically book a little bit profit at about Rs 310-314, that would also be a fair strategy.