Nifty was volatile and range bound on Tuesday. Nifty was trading in negative zone while CAIRN INDIA has done positive brake-out with huge volumes. Stock was consolidating between Rs 296 to 310 from few weeks. Lots of news came in stock since 2010 and it was volatile so far. Now stock has succeeded to close above its 200 day moving average line on Tuesday’s session. Cairn has another resistance at Rs 336 but upside rally is looking very strong and stock may breach this resistance level in next few trading sessions. Cairn India may buy on current level with the trading stop loss of Rs 306 and stock may touch Rs 350 in few weeks. Nifty may also buy on this level with the strict stop loss of 5240 and target may 5375 for today’s session.