IRCTC Shares Reach Record High: Insights from Technical Charts

The information you provided is a snapshot of the recent performance of IRCTC (Indian Railway Catering and Tourism Corporation) shares:

1. Percentage Increase: IRCTC shares experienced a 1.89% increase in their value on a particular Friday. The previous closing price was Rs 940.20, and after the increase, the shares reached a high of Rs 958.
2. Opening Price: On that day, the stock opened at a higher value of Rs 948.95 compared to the previous day’s closing price.

1. 5-day Moving Average (MA): Short-term trend indicator. A stock trading above its 5-day MA suggests recent upward momentum.
2. 10-day Moving Average (MA): Another short-term trend indicator. Being above the 10-day MA reinforces the short-term bullish sentiment.
3. 100-day Moving Average (MA): Intermediate-term trend indicator. Trading above the 100-day MA is a positive signal for medium-term trends.
4. 150-day Moving Average (MA): Similar to the 100-day MA, it provides a slightly longer-term perspective on trends.
5. 200-day Moving Average (MA): A long-term trend indicator. Being above the 200-day MA is generally considered a positive sign for the stock’s overall trend.

• Beta of 1: Indicates the stock moves in line with the market.
• Beta less than 1 (e.g., 0.3): Suggests lower volatility compared to the market. In this case, the stock tends to be less affected by overall market fluctuations.

When a large-cap stock is trading higher than the 5-day, 10-day, 100-day, 150-day, and 200-day moving averages, it generally indicates a positive and sustained upward trend.

The mention that the IRCTC stock fell to a 52-week low of Rs 557.15 on March 29, 2023, indicates a significant decline in the stock’s value compared to its performance over the previous 52 weeks.

The provided information highlights the recent performance of Indian Railway Catering and Tourism Corporation (IRCTC) shares:

1. Record High: IRCTC shares reached a record high in early trade.
2. Momentum Gain: The railway stock has experienced a significant momentum gain over the last two months, rising by 42% during this period.
3. Recent Price Movement: On the specified day, IRCTC shares climbed 1.89% to reach a high of Rs 958, compared to the previous closing price of Rs 940.20 on BSE.
4. Opening Price: The stock opened higher at Rs 948.95.
5. Trading Activity: A total of 1.96 lakh shares of IRCTC changed hands, resulting in a turnover of Rs 18.69 crore on BSE.
6. Market Cap: The market capitalization of IRCTC rose to Rs 76,124 crore.

A one-year beta of 0.3 for the IRCTC stock indicates low volatility. Beta is a measure of a stock’s sensitivity to market movements.

A beta of 0.3 suggests that IRCTC’s stock tends to move approximately one-third as much as the overall market.

The information provided offers insights into the technical analysis of IRCTC:

1. Relative Strength Index (RSI): The RSI for IRCTC stands at 76.2. RSI is a momentum oscillator that measures the speed and change of price movements. An RSI value above 70 typically indicates that a stock is in overbought territory, suggesting that it may be due for a potential pullback or correction.
2. Moving Averages: The large-cap stock is trading higher than various moving averages, including the 5-day, 10-day, 100-day, 150-day, and 200-day moving averages. This indicates a sustained and positive trend in the stock’s value over different timeframes.

IRCTC (Indian Railway Catering and Tourism Corporation) stock reached a low point in its price, touching Rs 557.15 on March 29, 2023.

Shiju Koothupalakkal, a Technical Research Analyst at Prabhudas Lilladher, provides a technical analysis perspective on the recent performance of the stock:

1. Decent Rally: The stock has experienced a notable rally in the last two months, indicating a positive and upward movement in its price.
2. Consolidation and Fresh Momentum: After a short consolidation phase, the stock has gained fresh momentum, particularly moving from Rs 890 levels to a new high of Rs 951.
3. Overall Strong Trend: The overall trend of the stock is considered strong, suggesting a sustained and positive market sentiment.
4. Near-Term Targets: The analyst suggests near-term targets for the stock at Rs 960 and Rs 1020, indicating expectations for further upward movement in the coming days.
5. Near-Term Support: The near-term support for the stock is anticipated to be maintained near Rs 910, providing a level at which the stock might find buying interest.
6. Indicators Well Placed: Technical indicators are reportedly well placed, suggesting positive market conditions and supporting the expectation of further rise in the stock’s value.

Deven Mehata, an Equity Research Analyst at Choice Broking, has provided a detailed technical analysis and insights into the IRCTC stock:

1. Position Relative to Moving Averages (MA): IRCTC is trading above its short-term (20 Day), medium-term (50 Day), and long-term (200 Day) Exponential Moving Averages (EMA). This suggests that the stock is maintaining a strong position, indicating a positive trend that is likely to persist.
2. Establishment of Support Level: There is a strong support level identified around Rs 875, which is close to the 20 Day EMA. The presence of this support level suggests significant buying interest, making it less likely for the stock to fall below this price point.
3. Bullish Trend Strength: The support level around Rs 875 adds strength to the bullish trend, indicating a higher probability of the stock continuing its upward movement.
4. Resistance and Potential Breakthrough: A minor resistance level is noted near Rs 950. If the stock successfully breaks through this resistance, it could pave the way for further gains.
5. Target Levels: The analyst has set a target for IRCTC at Rs 990 levels and beyond, contingent on the stock breaking through the noted resistance level.

Abhijeet from Tips2trades has provided a technical analysis and advice on the IRCTC stock:

1. Bullish Trend: The analyst acknowledges a bullish trend in the IRCTC stock price.
2. Overbought Condition: Despite the bullish trend, the stock is described as being very overbought on the daily charts. This suggests that the stock price may have risen too quickly and could potentially be due for a correction or pullback.
3. Resistance Level: The next resistance level is identified at Rs 959. Resistance levels often indicate points where the stock might face selling pressure.
4. Profit Booking Recommendation: Abhijeet advises investors to consider booking profits at the current levels. This recommendation aligns with the acknowledgment of the overbought condition, implying a cautious approach.
5. Support Level and Target: The analyst mentions a support level of Rs 907. A daily close below this support level could trigger a target of Rs 820 in the near term. This indicates a potential downside if the support level is breached.

The financial results for the September 2023 quarter for IRCTC indicate positive performance:

1. Net Profit Growth: IRCTC reported a significant rise in net profit, recording a 30.4% increase. The net profit for the quarter stood at Rs 294.7 crore, compared to Rs 226 crore in the same period last year. This suggests improved profitability for the company during the specified quarter.
2. Revenue Growth: The company experienced a growth in revenue from operations, with a 23.5% increase. The revenue for the quarter reached Rs 995.3 crore, up from Rs 805.8 crore in the corresponding period the previous year. This indicates a boost in the company’s top line.

The operating performance of IRCTC in the September 2023 quarter is outlined with the following details:

1. EBITDA Growth: The company’s Earnings Before Interest, Taxes, Depreciation, and Amortization (EBITDA) for the September quarter reached Rs 366.5 crore. This represents a growth of 20.2% compared to the EBITDA of Rs 304.9 crore reported in the same period last year.
2. EBITDA as an Operating Metric: EBITDA is a key financial metric that provides insight into a company’s operating profitability, indicating how well it generates profits from its core operations.