Krish Subramanyam of Asit C Mehta Investment told CNBC-TV18, "Around Rs 110, IDFC is more or less coming to the 200 day moving average (DMA) where some resistance may be there. We have seen some enormous amount of open interest built up in all these counters. It is just a matter of time some consolidation around these levels can be seen. So, maybe if I will take a call, I would buy 105 strike call and just hold on for a possible target in terms of future price of maybe Rs 115."
At 14:41 hrs IDFC was quoting at Rs 113.65, up Rs 8.75, or 8.34 percent. It has touched an intraday high of Rs 114.15 and an intraday low of Rs 104.35.
The share touched its 52-week high Rs 165.45 and 52-week low Rs 76.25 on 17 May, 2013 and 28 August, 2013, respectively. Currently, it is trading 31.31 percent below its 52-week high and 49.05 percent above its 52-week low. Market capitalisation stands at Rs 17,231.82 crore.
Disclosure: Analyst has recommended or discussed the strategies with his clients at large.
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