Hemant Thukral, National Head-Derivative Desk at Aditya Birla Money told CNBC-TV18, "The way rollovers have happened and the way cost declined yesterday that has taken away the air out of IDFC totally. Technically, it has gone below Rs 118-119 from where it had bottomed out in the recent past. This is clearly signalling that it has to retest the next support zone, which is around Rs 105-106."
"So if one gets an opportunity today, one should go short around that Rs 118 or Rs 117, keeping a stop loss of Rs 124, which was a strong support for it which IDFC gave up yesterday. Rs 106 should be the next target for everybody who is going short today," Thukral said.
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