IDFC . . nearing break out!!

The Nifty movement has been interesting. It did not break 2860 retracement level and has started moving up again. Expect further buying and short covering on break above 3050!!

(Did you realize how sentiments change in a matter of days - from extreme bearish to moderately bullish !! - That's the capital markets for you, friends !)

Well one stock which is also fundamentally quite sound, is IDFC. It is nearing it's break out level near Rs 73.



One can buy on a break above Rs 75 with a stoploss near to Rs 63 for a target of 92-98 levels.

Happy trading !!

CA Rajiv D Khatlawala
Head of Training and Research
Jhaveri Securities Ltd.