Technical Analysts have suggested investors to buy Cairn Energy, as it is a good stock for intraday dealings.

Investors can purchase Cairn Energy stock at around Rs 211 to achieve a target between Rs 214-217. The stock has performed brightly on yesterday. If the stock market declines today, investors should leave the stock.

For intraday trading the stop loss should be Rs 208. Yesterday, shares of the company gained 4.4% to settle at Rs 211.05. The stock touched its life high at Rs 230 in early November and made a short-term corrective decline to Rs 195 levels.

Cairn Energy PLC is an independent, public oil and gas exploration and production company based in Edinburgh, Scotland and quoted on the London Stock Exchange.

On 9 January 2007, Cairn successfully concluded the flotation of its Indian business with the commencement of trading of Cairn India Limited on the Bombay Stock Exchange and the National Stock Exchange of India. Cairn Energy PLC currently holds a 69.5% interest in Cairn India Limited.