Shrikant Chouhan of Kotak Securities is of the view that if Infrastructure Development Finance Company, IDFC breaks Rs 75 and sustains above that then it can see levels as high as Rs 100-120.
Chouhan told CNBC-TV18, "IDFC is forming a very strong formation and it’s in the range of Rs 45-75 in the last six months, the next target for the stock is like some where around Rs 100-120. Even if we look at the overall picture of the Infrastructure pack then we can say that after six months or one year we are going to see good run-up in this particular infrastructure pack, so out of that we are specifically bullish on IDFC.”
He further added, “Technically if it breaks Rs 75 and sustains above that then we can see levels as high as Rs 100-120 on the higher side and incase if there is failure of the trend, then also one can accumulate the stock on declines and they can hold on for atleast for 6-7 months to get very good returns.”
Disclosure: Analyst holds IDFC but not GE Shipping or Educomp. He has recommended both the stocks to clients.
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