Sanjeev Agarwal, CEO of Dynamix Research & Capital Management told CNBC-TV18, "IDFC on charts is looking quite weak and around Rs 118 it has bounced. It is again breaking that. Series of measures which Reserve Bank of India (RBI) has taken in strengthening rupee is adversely affecting most of the banks. IDFC per se is not a bank but the tightening of the liquidity is going to have a telling effect on its finances."
"Overall I feel on a chart, the price is looking somewhere around Rs 100 is very easily achievable. So one should wait for buying it on a lower price around Rs 90-100 levels and not at current price, which is looking weak at the current prices," Agarwal said.
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