Wednesday, October 20, 2021

IRCTC shares continue to fall, plunge 15%. What to do know ?


Indian Railway Catering and Tourism Corporation (IRCTC) shares continued to decline as the stock slipped over 15% to ₹4,610 apiece in Wednesday's early trading session deals. On Tuesday, the stock witnessed a sudden decline of over 15% towards closing. Though, it managed to settle off-lows and closed at ₹5,363 apiece, down 8% on the BSE. The scrip had hit a record high of ₹6,393 per share in Tuesday's early session.

IRCTC is part of the stock exchange NSE's futures and options (F&O) ban list on Wednesday. As per the National Stock Exchange (NSE), the stock is banned under the F&O segment as it has crossed 95% of the market-wide position limit (MWPL).

What Now

IRCTC shares have skyrocketed in the recent one month and hence profit-booking was strongly awaited. But, it won’t fall much from now onwards . 

IRCTC stock has good long term support near 4086 - 3954 . So now investor can start  accumulating the stock on every dip from here.

IRCTC is in a pure monopoly business as it is the only authorized firm to provide online tickets and catering services to the Indian railways. This along with its robust financials as well as a debt-free status had made it a favorite among all kinds of investors.

Disclaimer- The information on this blog are based on my personal opinion and experience, it should not be considered professional financial investment advice and in no way it should be considered as a tip. We does not take any compensation of any kind whatsoever from any reader,user and company that are mention on this website.We are not SEBI registered financial advisor or analyst.

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