IDFC - - near long term support!

The Nifty has had a roller coaster ride for the past two days - courtesy Lehman Bros. and Merryl lynch

Consider 4035 as a crucial support for intraday and 3980 on daily charts.



IDFC got hammered and quoted near it last years crucial support level of 78. I have given the weekly chart of IDFC and you would observe that there is long term support for the stock between Rs 66 and Rs 78/-.

I presume longer term traders (popularly known as investors)can buy the stock in this range with a 10% stop and hold.

Happy Trading

CA Rajiv D Khatlawala