Go long in IDFC, advises Rishi Kohli

Rishi Kohli of ProAlpha Systematic Capital recommends going long in IDFC with a target of Rs 121-122.

Rishi Kohli of ProAlpha Systematic Capital told CNBC-TV18, "Around Rs 129-130 IDFC  looked liked it peaked out, it would come down and next day the banking license news came out and many people thought it would go up but actually it came down. So, it pretty much respected our view and it has come down to around Rs 111-112 levels."

"Interestingly the technical factors are giving a short-term buy signal. I would go long on IDFC with a reasonably tight stoploss around Rs 109 and it could move up to Rs 121-122 levels," he said.

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