Hold IDFC, advises Nooresh Merani

Nooresh Merani, AVP Technical of AMSEC Research told CNBC-TV18, "We were not expecting IDFC to drop below Rs 90 which was a major support level but now it has dropped to Rs 80 and the longer term trading band of Rs 55-75 was there in 2008-2009 bottoming out. So one don't have a lot of downside from here."

"One can hold on and keep a view of one-two years and may be we will see a much bigger appreciation. But in the next couple of months we could see Rs 75 on the downside as well," he added. The share touched its 52-week high Rs 185.35 and 52-week low Rs 76.25 on 07 January, 2013 and 28 August, 2013, respectively. Currently, it is trading 56.62 percent below its 52-week high and 5.44 percent above its 52-week low. Market capitalisation stands at Rs 12,183.24 crore.