Sell IDFC Fut below Rs 108: IIFL

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Sell IDFC Fut below Rs 108: IIFL

According to IIFL, traders can sell IDFC November Futures below Rs 108 with stop loss of Rs 111 for a target of Rs 102, in its November 18, 2011 research report.

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According to IIFL, traders can sell IDFC November Futures below Rs 108 with stop loss of Rs 111 for a target of Rs 102, in its November 18, 2011 research report.

"IDFC, pattern of lower high and lower low is observed on the daily candlestick chart since second week of November 2011. The downtrend is likely to continue in the near term. The stock had been taking support at its short-term trendline from August 2011. However, on Thursday, the stock closed below its crucial support trendline. The daily RSI as well as the MACD continue to depict negative trend. In view of the above mentioned technical evidences, we recommend traders to sell IDFC November Futures below Rs 108 with stop loss of Rs111 for a target of Rs102," says IIFL research report.

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