IDFC looks good, says Manghnani

IDFC is looking good, says Anil Manghnani, Modern Shares & Stock Brokers.

Manghnani told CNBC-TV18, "The problem is the way REC and PFC have performed, the fact that they keep going and making new lows in every fall, that doesn’t board well for the stock. So they may see a bounce and they are high-beta names."
He further added, "I would probably go for an IDFC, the reason being now every time the market goes to 4800 or lower, IDFC doesn’t go back to its lows of Rs 110. So it suggests to me that maybe a move back to Rs 135 if the market supports is on the cards. So maybe not REC PFC, but yes IDFC definitely looks pretty good on the charts."