IDFC can decline to Rs 120: Sukhani

IDFC can decline to Rs 120, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "IDFC is one of those midcap stocks that told us it is going up and then literally collapsed. The first targets have been met and now IDFC says I am willing to go down much more, so an immediate target for a day trader is Rs 150 but an eventual target could be Rs 120 also; the charts are horrible."
At 09:54 hrs IDFC was quoting at Rs 157.05, up Rs 1.50, or 0.96%. It has touched an intraday high of Rs 157.90 and an intraday low of Rs 156.50.
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 15.27% below its 52-week high and 32.14% above its 52-week low. Market capitalisation stands at Rs 23,784.05 crore.