Techno Funda IRCTC Ltd.

Indian Railway Catering & Tourism Corporation (IRCTC Limited) is an Indian Railway subsidiary established by the Ministry of Railways to manage Indian railway catering, online ticketing and tourism operations. The core activities of the company include Catering & Hospitality, Internet ticketing, Travel & Tourism and Packaged Drinking Water (Rail Neer).

This particular stock has been a prominent player in its industry for several years. However, due to some unfavorable news, it experienced a sharp decline from its all-time high of 1279.25 in October 2021. As a result, the stock is currently trading at a significantly reduced price. Regarding the recent movement of the stock’s price, it formed a double bottom pattern on the weekly timeframe and triggered a buy signal. In technical terms, it has surpassed its 20-day exponential moving average (DEMA), which is a crucial indicator used to determine the stock’s recent price strength. After examining the stock’s indicators and oscillators, the price appears to be favorable. Therefore, it is recommended to consider purchasing or accumulating the stock at its current level of 592.65 to 579.30 with a stop loss of 556.50, for the target of 639.30. This trade could take 2-3 weeks to reach the target.

Source: Capitaline Database, EWL Research

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