IFCI looks cheap: CK Narayan

ET Now spoke to CK Narayan, President Treasury, Sharyans Resources, on his view on IFCI, IDFC.

Quick comment from you IFCI at 52.25 and IDFC at 176 thereabouts?

I think IFCI and IDFC are hugely patronised by longer term player. So these are two stocks which always mean for huge volumes and therefore they are always good trading as well as interesting long plays.

At the moment, both of them retraded nicely back into support they have been showing consistently higher bottoms so there is interest in the stock. I think of the two IFCI always has larger kick because being a smaller let say two digit stock I think it seem as something like cheap so a lot of smaller retail players are also happy to play IFCI so it might have a little more momentum compared to IDFC.

IDFC would probably give it some extra cloud in the distribution area but on the IDFC chart I find that about 220 high near about which it some time in early November the stock may have actually recorded a decent high. So I would regard the IDFC as being something which would range or have a slight downward bias so I would treat any bounce as only a rally.

IFCI I would be content to look at about 69 levels as the outside plays for a rally right now. The whole market is looking rallyish and not really anything more than that so these two stocks should not be any different they will just go with the market.