IDFC can move to Rs 148-150: Ashish Chaturmuhta

IDFC can move to Rs 148-150, says Ashish Chaturmuhta, VP Derivates and Technicals, IIFL Private Wealth Management.

Chaturmuhta told CNBC-TV18, "IDFC has been consolidating in a range of Rs 133-140 levels. During this period we have seen a consistent rise in the open interest build up. So that is giving a sense that lot of long accumulation has happen in the stock."
He further added, "This stock can move towards Rs 148-150 levels in very short term. Ideally on downside Rs 129-130 should be kept as a positional stop loss whereas for a very short term Rs 135 should be as a trading stoploss for going long in the stock."