Indian Railway Catering And Tourism Corporation Limited (IRCTC) Stock - Complete Technical Analysis - Nov 28, 2024

IRCTC Stock Technical Analysis: Support, Resistance & Key Indicators for Traders Partha Kuchana -

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing in stocks involves risks, and it's essential to conduct thorough research or consult with a financial advisor before making investment decisions. Indian Railway Catering and Tourism Corporation Limited (IRCTC) stock is currently priced at 814.35, sitting between a support level of 810-812 and a resistance range of 820-831. The stock has dropped significantly from its 52-week high of 1138.9 in May 2024, but it's still above its 52-week low of 692.8 from late November 2023, suggesting that recent price movements are showing some strength.

Looking at the technical indicators, the Relative Strength Index (RSI) of 44.42 shows the stock is neither overbought nor oversold, which could mean its in a neutral phase. The Stochastic RSI at 72.57 suggests the stock might be approaching overbought territory, which could lead to short-term pullbacks. On the other hand, the Average Directional Index (ADX) of 30.05 implies a weak to moderate trend, indicating that a breakout could occur once the stock gathers more momentum.

The Exponential Moving Averages (EMAs) show that the stock is currently trading below the key 200-day EMA of 896.5, which highlights a bearish trend in the medium term. However, the stock has been holding above its 10-day EMA of 813, which is a short-term positive sign. If it holds support above the 810-812 levels, it could be primed for a short-term reversal or rally. Otherwise, a drop below these levels could take the stock toward the 780-790 levels.

For traders, its crucial to watch the next price movements closely. If the stock breaks above 820-830, it could head toward the 860 mark. However, a decline below 810 could lead to further bearish pressure. Keeping an eye on both the support and resistance zones is key to understanding where the stock may head next.