Sell IDFC, says Sudarshan Sukhani

Sell IDFC, says Sudarshan Sukhani of s2analytics.com.

Sukhani told CNBC-TV18, “IDFC is a good chart. It has completed a distribution and so many midcaps have done that now. It has confirmed a bearish head and shoulder pattern and that suggests that lower levels are coming."
He further added, "An immediate target is Rs 150 and it could eventually end up at Rs 135 also. Still the underlying long-term bullishness of the stock will not be disturbed. However, for a short-term trader there is money on the downside, so should be selling.”
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 15.75% below its 52-week high and 31.38% above its 52-week low.
The company's trailing 12-month (TTM) EPS was at Rs 10.59 per share. (Dec, 2012). The stock's price-to-earnings (P/E) ratio was 14.73. The latest book value of the company is Rs 80.18 per share. At current value, the price-to-book value of the company was 1.95. The dividend yield of the company was 1.47%.