Above Rs 165, IDFC may move up by 5-7%: Gaurav Bissa

Gaurav Bissa of LKP Securities told CNBC-TV18, "IDFC is more of an option based call. This series also, it has the highest option concentration combined of 160 strike Call and Put. It is trading comfortably above that. In historical terms also whenever it has crossed Rs 160 it has touched levels of Rs 165 - 166 and with the interest rate cut, it is likely to get another push in the fundamental side as well."

"If it crosses Rs 165 then it can move by another 5 -7 percent. I have still given a conservative target of Rs 7 with the stop loss at Re 1," he added.

Disclosure: Analyst has no personal holdings in the stock but it is possible that he may have recommended them to his clients at LKP Securities.