Avoid IDFC, says Siddharth Bhamre

Siddharth Bhamre of Angel Broking told CNBC-TV18, "I won't approach IDFC. We have seen huge amount of shorting taking place in the stock. There were some issues in stocks like IDFC and YES Bank where we had seen huge quantum of fall with huge formation of short positions. People are not putting money right now in market, be it DIIs or FIIs. So I don't think there would be good amount of cash based buying."

"There should be some technical adjustment here or there where one will see probably some short covering in IDFC which might take it five percent higher from current levels which would be nothing if one sees the quantum of fall it has seen in last one and half month. So I won't touch that stock on the long side at least," he added.