Sell IDFC, says Sudarshan Sukhani

Sell IDFC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, “IDFC is a matter of regret because I thought it was starting a bull market then it made a distribution pattern, a head and shoulder, broke down.”
He further added, “IDFC is making another big distribution pattern that suggests much lower levels are coming. So, it is a short sell. Today, for a positional trader, for both kinds of timeframes, should be selling it.”
The share touched its 52-week high Rs 185.35 and 52-week low Rs 118.85 on 07 January, 2013 and 07 May, 2012, respectively.Currently, it is trading 16% below its 52-week high and 31.01% above its 52-week low.
The company's trailing 12-month (TTM) EPS was at Rs 10.59 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 14.72. The latest book value of the company is Rs 80.18 per share. At current value, the price-to-book value of the company was 1.94. The dividend yield of the company was 1.48%.