IDFC may correct to Rs 172, says SP Tulsian

IDFC may correct to Rs 172, says SP Tulsian, sptulsian.com.

Tulsian told CNBC-TV18, “IDFC, must be profit booking because if you all the financial stocks have taken a pause. More specially the dedicated financial institutions like maybe Rural Electrification Corporation (REC), Power Finance Corporation (PFC) in the power sector and IDFC in the infrastructure.”
He further added, “The kind of run up which we have seen in the share is – now we are seeing some profit booking coming in. Otherwise, also Rs 182-184 was seen as a resistance for the stock. So maybe some profit booking will come in. The stock may correct to about Rs 172. But the positive stance continues to remain on the stock.”