Infrastructure Development Finance Company (IDFC) Ltd. CMP— 116.40
Technical Outlook & Trading Strategy:-
The share price of IDFC has seen a sharp fall from the highs of Rs 145 on 25th July 2011 to the lows of Rs 103.25 Levels.
The stock has since then pulled back and tended to trade within the Rs 103.25---Rs 116 range. On the daily chart the stock has managed to close above its cluster of moving averages. The momentum indicator on the daily chart is also in a bullish zone suggesting more upside in the stock.
We recommend traders to buy 50% now and again on dips up to Rs113—Rs 114 levels with a stop loss placed below Rs 111.8 levels for targets of Rs 122 – Rs 130 levels.
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