HDFC may test Rs 1250 in near term: Rahul Shah

Rahul Shah of Motilal Oswal told CNBC-TV18, "We have seen Housing Development Finance Corporation (HDFC) crashing 25 percent from the recent high and so the shorts were created. Clear cut we have seen short coverings and obviously the longs also getting build up. The stock can go to Rs 1,250 in the near term."At 14:49 hrs Housing Development Finance Corporation was quoting at Rs 1,189.50, up Rs 87.05, or 7.90 percent. It has touched an intraday high of Rs 1,192.00 and an intraday low of Rs 1,120.