Sell/Reduce IDFC between CMP to Rs.160 :: HDFC Securities

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 Week’s action is forming a strong bear candle with
good volumes and
the stock is showing negative
bias for the short to medium term.
 Price has completed the corrective rising leg at
166 levels which could be short term or medium
term top for the stock.
 Price has started to retrace the last major rising
leg from 76 to 16
6 levels. The minimum
retracement of any counter trend (Initial
expectation is minimum retracement) move could
be 23.6% of the whole leg which comes around
132 levels. Earlier to that key swing bottom is
placed at 135 which could be short term target for the stock.
 Traders could sell the stock between CMP to 160
with the stoploss of 164 on closing basis for the
target of 135
.

LINK
http://www.hdfcsec.com/Share-Market-Research/Research-Details/StockReports/3010594