Sell IDFC, says Shubham Agarwal

Shubham Agarwal of Motilal Oswal Securities told CNBC-TV18, "In the longer term trend of IDFC, every time we see a medium term pullback happening the stock resumes its downtrend. The short-term patterns are suggesting that we have continuation patterns getting developed on the chart and the stock has already confirmed a breakdown."

"This is the reason we are recommending a sell on IDFC, the target could be Rs 85 and a stoploss can be kept above Rs 97," he added.