IRCTC Share Price: Stock market experts suggest this stock to buy and mint money

IRCTC Share Price: Indian Railway Catering and Tourism Corporation (IRCTC) share price history of the last one month suggests that Indian Railways PSU stock is range-bound in between Rs 1,300 to Rs 1,500 per stock levels.

Stock market experts say that once the railway services get back to full fledged levels, the IRCTC stock is expected to pick up further momentum and break its upside hurdle at Rs 1,500. Photo: Reuters

IRCTC Share Price: Indian Railway Catering and Tourism Corporation (IRCTC) share price history of the last one month suggests that Indian Railways PSU stock is range-bound in between Rs 1,300 to Rs 1,500 per stock levels. In the last one month, IRCTC shares made its low of Rs 1,338 per share while it made a high of Rs 1,414 in the same period. According to the stock market experts, IRCTC share price is sideways due to the tepid Indian Railways services after the Coronavirus lockdown. They said that once the railway services get back to full fledged levels, the IRCTC stock is expected to pick up further momentum and break its upside hurdle at Rs 1,500.

Highlighting the technical data of IRCTC stock, Rohit Singre, Senior Technical Research Analyst at LKP Securities said, "Currently, IRCTC shares are trading in the range of Rs 1,300 to Rs 1,500 per share levels."

Speaking on the IRCTC share price forecast Sumeet Bagadia, Executive Director at Choice Broking said, "IRCTC business is linked to the Indian Railways business. Since the indian Railways services have been hit badly by the Coronavirus in recent times, its impact on the IRCTC shares was obvious. In the current stock market scenario, IRCTC share price has strong support at Rs 1,340 to Rs 1,300 and hence one can buy the counter at around Rs 1,350 to 1,360 levels for the immediate target of Rs 1,500 in next one month."

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Bagadia said that one can expect IRCTC share price to go up when the COPVID-19 impact eases and the Indian Railways operations reaches to its pre-COVID stage. In that case, the IRCTC shares can break its upper range of Rs 1500 and go further 10-12 per cent up.

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