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IRCTC share price rallies 9% ahead of Q4 results; still 18% down YTD, should you buy, sell or hold?

IRCTC share price soared 9.2 per cent to Rs 712.60 apiece on BSE,

IRCTC share price, Indian Railways
On a year-to-date (YTD) basis, IRCTC stock price has tanked more than 18 per cent.

IRCTC share price soared 9.2 per cent to Rs 712.60 apiece on BSE, ahead of January-March quarter results for FY22. The stock has been on a gaining spree, adding 7.04 per cent in last five trading sessions. While, this Indian Railways stock has delivered a negative return of 6.35 per cent in one month period. On a year-to-date (YTD) basis, Indian Railway Catering and Tourism Corporation stock price has tanked more than 18 per cent. Technical analysts say that after a prolonged decline, the stock has finally put a bottom in place.

“Following a strong bullish divergence of the RSI against the price, the stock has tried to reverse its trend. Investors can enter this stock with a price target of 750 and 810 levels while maintaining a stoploss of 650,” Milan Vaishnav, CMT, MSTA, Consulting Technical Analyst and founder, Gemstone Equity Research & Advisory Services, told FinancialExpress.com.

Chartists said that momentum oscillators RSI read at 50 and continue its Higher Low formation and MACD indicator sustaining above zero levels with positive crossover suggest for the upward movement. “Stock is having the immediate hurdle at 708, and a close above this level suggest the positive movement in the price towards the 770 and 820 level on upside. On the downside 625 maybe act as a support level,” Vijay Dhanotiya, Lead analyst, CapitalVia Global Research, told FinancialExpress.com.

With a strong Q4FY22 results expected due to peak holiday season, increased fares, and no disruptions in terms of travel and state lockdowns, not surprising that IRCTC stock price has jumped considerably on Monday, AR Ramachandran, Co-founder & Trainer, Tips2Trades, said. “Technically, 710 will remain a strong resistance and IRCTC needs to close above this level for next target of 765. Strong support will be at 648,” he told FinancialExpress.com.

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