Short IDFC, says Sudarshan Sukhani

Short IDFC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, "IDFC gave the sense that it has completed its bear market. It almost doubled from its lows.  Now the sense is that there is a distribution that was going on and that distribution has now been confirmed. So, IDFC  is a trade today and for the next few days it is to be on the short side."
He further added, "In a choppy market we get these opportunities. I do not think that overall trend in IDFC has changed  but the downtrend is there, which is enough for us to go and take a short position."
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 9.17% below its 52-week high and 41.65% above its 52-week low. Market  capitalisation stands at Rs 25,495.36 crore. Disclosure: I have no holdings or interest in the above stock.