Buy IDFC; target of Rs 168: IndiaInfoline

49968 Investors following IDFC. Share this News with them.

0

Like this story, share it with millions of investors on M3

Buy IDFC; target of Rs 168: IndiaInfoline

IndiaInfoline is bullish on IDFC and has recommended buy rating on the stock with a target of Rs 168, in its March 02, 2010 research report.

Post your opinion here

 

0

Tweet

Share on Tumblr

RELATED NEWS Pick Maruti, IFCI, GMR Infra, IDFC: Tulsian ALSO READ See previous views by India Infoline See what other Experts & Brokerages are saying about IDFC See messages about IDFC IDFC BSE | NSE 31/05/12 Are Mutual Funds betting on IDFC?

IndiaInfoline is bullish on Infrastructure Development Finance Company , IDFC and has recommended buy rating on the stock with a target of Rs 168, in its March 02, 2010 research report.

On the daily chart, IDFC has broken out from an inverted Head & Shoulders formation with the neckline placed at Rs158. We believe consolidation above this level could lead to a strong rally in the counter.  A detailed study of the daily chart suggests that the stock has given a breakout past its one-month resistance line with heavy volumes. The supportive technical oscillators are positive and the upmove which begun last week from the levels of Rs146 has taken support at 200-DMA. We recommend traders to buy the stock between the range of Rs 159-161 for target of Rs168 and Rs170 with a stop loss of Rs 155," says IndiaInfoline research report.

Disclaimer: The views and investment tips expressed by investment experts on moneycontrol.com are their own, and not that of the website or its management. Moneycontrol.com advises users to check with certified experts before taking any investment decisions.

To read the full report click on the attachment