Thursday, February 11, 2010

Cairn India is a buy

Cairn India has broken out of the downtrend channel.

The ADX has peaked out at 36 and turned around, currently at 34 - which shows that the downtrend has finished.

On the MACD charts the MACD line is taking a U-turn and started to move upwards - which shows a bullish trend in setting.


Disclosure: I personally hold this stock.

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