Enter IDFC around Rs 147-148: Harchekar

Amit Harchekar, IIFL is of the view that, one can wait for a dip in IDFC towards Rs 147-148, which is a good entry point.

Harchekar told CNBC-TV18, "IDFC is entering into a resistance band between Rs 155-156 and right now the correction is begin, so one should be wait for a dip towards Rs 147-148 that becomes a good entry point. The breakout in IDFC had happened above Rs 146 so I believe that turns out to be a make or break levels on a medium term basis." He further added, "Power Grid Corporation of India, the view remains quite positive. I am expecting the stock to rally towards Rs 130-133. The earlier breakout what we had a couple of weeks back that is indicating that uptrend remains intact and the stock should be bought on dips unless the target gets achieved close to around Rs 135. I believe the stock would be outperforming the market and if you are initiating long positions at current levels your stop loss turns out to be at around Rs 116.5."