Tuesday, October 16, 2012
Cairn India Monthly
We are bullish on Crude from next 2 years perspective and let us accept very few friends agree with us :-(. We know that China is concentrating on increasing domestic consumption and Chinese demand for commodity is down but we think US will be growth engine of world economy for next 2-3 years and crude can NOT remain at current levels when world's No.1 economy is powering ahead. Plus Crude goes up in Geo Political situation.
Best proxy to play Crude in Indian Equity is through Cairn India. So, We attach our monthly chart of Cairn India (CMP 335).Will cairn start upward journey in days to come?
Disc: No holding in Cairn India in personal/firm at time of writing. Clients hold and they may buy/sell/trade in future.