It has high Correlation to Crude and it should catch up with the fall in crude prices. It can also be seen that it reversed strongly from 500 DMA. Next support is after 15% fall. Risk reward is 4.84. It will be a free fall.
CAIRN - To Fall in the next 2-3 weeks 137
After a correction of 5 impulse waves, it is all set to get long in the trending channel to target 170. Comfortable Risk Reward
Cairn has one down leg till 118/114 from where it can turn around as a fresh impulse till 172/182