As of today, October 8th, at 4 PM, shares of IRCTC are priced at ₹874.75, reflecting a growth of 1.96% compared to the previous closing price. In the broader market, the Sensex has seen a positive shift, currently standing at ₹81,634.81, representing an increase of 0.72%. During today’s trading session, IRCTC shares reached a high of ₹877.80 and dipped to a low of ₹851.60.
Technical Analysis of IRCTC Shares
On the technical front, IRCTC is currently trading below several key moving averages, including the short-term simple moving averages (SMA) for 5, 10, and 20 days as well as the longer-term SMAs for 50, 100, and 300 days. This indicates a potential bearish trend and highlights areas for careful observation by investors.
SMA Values
The specific SMA values for IRCTC shares are vital for determining the stock’s momentum and potential future movement, allowing traders to make informed decisions based on current price patterns. These values can indicate possible entry and exit points for investors.
Pivot Level Analysis
A classic pivot level analysis presents critical resistance points at ₹882.67, ₹890.38, and ₹905.77. Conversely, key support levels are identified at ₹859.57, ₹844.18, and ₹836.47. This information is essential for traders looking to establish strategies based on expected price movements.
Trading Volume Insights
As of 4 PM today, trading volume for IRCTC on both the NSE and BSE has decreased by 34.60% compared to the previous session. Understanding trading volume is crucial as it acts as an indicator of buying or selling pressure. Higher trading volume coupled with price movement suggests a stronger trend, while lower volume may indicate potential weakness.
Current Market Sentiment
In summary, according to technical analyses from Mint, IRCTC shares are experiencing a strong downtrend. Investors should be cautious and consider further research or alternative investment strategies if current trends persist.
Fundamental Analysis of IRCTC
From a fundamental perspective, IRCTC showcases a robust return on equity (ROE) of 38.93%. Furthermore, the stock’s current price-to-earnings (P/E) ratio sits at 57.83, illustrating how the stock is currently valued compared to its earnings. These metrics are important for assessing overall financial health and growth potential of the company.
1-Year Price Forecast
Looking ahead, analysts forecast a median 1-year upside of 4.43% for IRCTC shares, with an anticipated target price of ₹836.00. Investors should weigh this forecast in conjunction with other market indicators to align their investment strategies.
Promoter and Institutional Holdings
IRCTC’s promoter holding stands at an impressive 62.40%, while mutual fund (MF) holdings account for 9.60% and foreign institutional investor (FII) holdings are at 7.78%, based on filings from the June quarter. Understanding these ownership structures gives insights into investor confidence and the company’s long-term prospects.
Changes in FII Holdings
It’s noteworthy that FII holdings have decreased from 8.08% in March to 7.78% in the latest quarter. This reduction may reflect changing investment priorities among institutional investors, warranting further scrutiny by potential investors.
Market Performance Compared to Peers
Today, IRCTC’s share price rose by 1.96% to ₹874.75, performing in alignment with its peers in the market. Similar upwards trends are observed among its counterparts, as evidenced by the overall gains in key benchmark indices like Nifty and Sensex, both up by 0.88% and 0.72% respectively.
