Edit: 12-07-2021
As there was lockdown we cannot expect some super results financially, as now we return to normalcy and IRCTC starting trains and catering we can see some improvement in coming quarters. FII holding has increased significantly and if we see fundamentally I still think there is some over-valuation. But the technical charts suggest some other picture. So we can also expect some bullish moves at current prices till Rs.2600. Investors should simply buy this and wait for the magic over years.
Edit: 19-01-2021
As the major economies around the world are hit with the Corona, Tourism & Hospitality is hit badly, as major trains are not operating, it will definitely have an impact on the earnings, the stock is hovering around important support of Rs.1421 if in coming days as the situation normalizes and the world again gets back on track we will see upside in tourism and railways are an important part of transport means. On the upside towards Rs.2000. On the daily charts, we have multiple support at Rs.1254 and Rs.1063.
Edit: 27–03–2020
Seeing the current technical structure of the stock, IRCTC was in the lower-circuit zone for more than 10 continuous sessions. As now the circuit is opened and hit the buyer circuit today, some idiots may jump around and may jump in IRCTC to cry later. Because Markets are supreme commander, 2020 crash of the stock market and still some idiots come in social media to prove their propaganda. I always believe respect the elders and seniors of the market and don’t try to share your little knowledge to them. In such a scenario the stock can go around 870–915–1041 levels and again correction may start. Only traders, if they can handle volatility, should enter or stay away from this.
Edit: 24–02–2020
Technically the stock is facing Lower-Circuits daily. As per our review, the stock was too much over-valued in the time of over-optimism. Now when the global markets have corrected and our own country facing a lock-down of 21 days and whole passenger transport is totally stopped. This stock technically has a downside from 767–492 levels. Once the situation around us normalizes this stock will also recover and maybe it will be a good buying opportunity on the downside.
As all the Air, Road and Water transport has been totally stopped, and all airlines and railways are also facing lock-down in entire India. Passengers trains are stopped and IRCTC manages premium trains, so as the hospitality and travel sector faces problems IRCTC was bound to fall and also was in the bubble zone due to over-optimism. Once the situation normalizes we will again review IRCTC.
Technically once the stock moved above the price of Rs.1500 we were expecting a strong correction but the stock was moving only upwards. Some people had started to believe that no correction will ever come in this stock and once the global markets were hit was Corona Virus the market started a correction and all the over-valued stocks have been hit very badly. This stock will only be attractive around Rs.800 or even below. As most states have told people to avoid travel Airlines Industry have been affected so do the Railways. And the trains managed by IRCTC are premium trains. In the near term, it will be affected with the revenue issues but once the situation in India and around the globe improves, this stock will again perform. But charts had way before signaled a correction. But everyone becomes an expert in Bull Market.
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