Buy IDFC for target of Rs 190: Finquest

MUMBAI: Finquest Securities had advised traders to buy IDFC for target of Rs 190.

���IDFC after consolidating for almost 3 months has breached its falling trend line and given a breakout from a diamond shaped pattern. The stock seems likely to head towards Rs 190 levels in the short term. MACD (daily chart) has given a positive crossover at the zero line indicating underlying momentum is gaining strength.

The breakout today has been accompanied with high volumes adding strength to the bullish outlook. DMI + has crossed DMI (-) after being range bound since last few weeks. Buy the stock at Rs 148 for a target of Rs 190 and keep a stoploss below Rs 136."