Ashish Chaturmohta of Fortune Equity Brokers told CNBC-TV18, "IDFC has formed almost a double bottom formation around Rs 102-103 levels. In terms of open interest (OI) in last three days, we have seen a very strong addition in terms of position build up. This stock after a long time saw some kind of activity happening."
"I think the momentum may continue, Rs 118 would be the possible target on the upside. We are going to see a strong short covering above Rs 109-110 levels. So this is one stock where we can see another 7-8 percent upside from current levels. One can initiate with a stoploss of Rs 106 on downside," he said.Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
