IDFC could get closer to 140: Ashwani Gujral

Ashwani Gujral, Fund Manager, Ashwanigujral.com, talks to ET Now on various stocks.

What is your call on IDFC?

If the market continues to move higher, it is likely that IDFC could get closer to 140. The point is not how much they have appreciated from the lows but where the 200 DMA of most of these stocks are because chances are 95% of the market is likely to test their 200 DMAs as the large cap indices do that and most of the banking or financial stocks are likely to cross their 200 DMAs if only for a bit before they start declining.

So that should be the approximate target for most moves. IDFC has just crosses its 200 DMA at about 122-123 and the next target here could be easily closer to 135 to 140.