Sudarshan Sukhani, s2analytics.com advises short term traders to go long in IDFC at current levels.
Sukhani told CNBC-TV18, "It is too early to sell Infrastructure Development Finance Company (IDFC). The trade is on the other side. The Nifty has come to 5650 and it is standing here. It is quite possible that we could see a relief rally, the one that we expected yesterday and yesterday was not a good day to expect it. It is quite possible that we may see some kind of relief rally, so Manappuram Finance is to be done nothing with. You cannot short sell it and you cannot buy it at these levels. There is no justification."
He further added, "IDFC is a stock you can actually consider going long. These are short-term trades, not a day trade, but that runs into next week, that's all."
Sukhani told CNBC-TV18, "It is too early to sell Infrastructure Development Finance Company (IDFC). The trade is on the other side. The Nifty has come to 5650 and it is standing here. It is quite possible that we could see a relief rally, the one that we expected yesterday and yesterday was not a good day to expect it. It is quite possible that we may see some kind of relief rally, so Manappuram Finance is to be done nothing with. You cannot short sell it and you cannot buy it at these levels. There is no justification."
He further added, "IDFC is a stock you can actually consider going long. These are short-term trades, not a day trade, but that runs into next week, that's all."
Disclosure: I have positional shorts in the Nifty and I have just taken a long position for an intraday trade.
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