Both Cairn and Vedanta are going to pull each other. Vednta has just broken 500DMA and will be a free fall from here until it finds support at 50DMA.
Extremely rewarding trade with upside of 13% and stoploss of 2%
CAIRN chart is corroborated with drop in USOIL prices. It is a high conviction trade.
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.