Indian Railway Catering and To Stock Forecast
Red day on Friday for Indian Railway Catering and To
(Updated on Jun 21, 2024)
The Indian Railway Catering and To stock price fell by -0.290% on the last day (Friday, 21st Jun 2024) from ₹1,015.55 to ₹1,012.60. During the last trading day the stock fluctuated 3.74% from a day low at ₹1,008.00 to a day high of ₹1,045.70. The price has risen in 6 of the last 10 days and is up by 4.03% over the past 2 weeks. Volume has increased on the last day by 23 thousand shares but on falling prices. This may be an early warning and the risk will be increased slightly over the next couple of days. In total, 203 thousand shares were bought and sold for approximately ₹205.70 million.
The stock lies in the middle of a wide and weak rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 3.82% during the next 3 months and, with a 90% probability hold a price between ₹956.75 and ₹1,193.42 at the end of this 3-month period.
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IRCTC.BO Signals & Forecast
There are few to no technical positive signals at the moment. The Indian Railway Catering and To stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at ₹1,019.63 and ₹1,029.03. A break-up above any of these levels will issue buy signals. A sell signal was issued from a pivot top point on Tuesday, June 18, 2024, and so far it has fallen -1.89%. Further fall is indicated until a new bottom pivot has been found. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD). Volume rose on falling prices yesterday. This may be an early warning and the stock should be followed more closely.
Support, Risk & Stop-loss for Indian Railway Catering and To stock
Indian Railway Catering and To finds support from accumulated volume at ₹969.50 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved ₹37.70 between high and low, or 3.74%. For the last week, the stock has had daily average volatility of 2.41%.
Our recommended stop-loss: We hold a negative evaluation for this stock. No stop-loss is set.
Trading Expectations (IRCTC.BO) For The Upcoming Trading Day Of Monday 24th
For the upcoming trading day on Monday, 24th we expect Indian Railway Catering and To to open at ₹1,022.10, and during the day (based on 14 day Average True Range), to move between ₹975.82 and ₹1,049.38, which gives a possible trading interval of +/-₹36.78 (+/-3.63%) up or down from last closing price. If Indian Railway Catering and To takes out the full calculated possible swing range there will be an estimated 7.26% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at ₹1,029.15 (1.63%) than the support at ₹969.50 (4.26%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Indian Railway Catering and To stock A Buy?
The Indian Railway Catering and To stock holds several negative signals and despite the positive trend, we believe Indian Railway Catering and To will perform weakly in the next couple of days or weeks. Therefore, we hold a negative evaluation of this stock.
Current score: -3.231 Sell Candidate Unchanged
Predicted Opening Price for Indian Railway Catering and To of Monday, June 24, 2024
| Fair opening price June 24, 2024 | Current price |
|---|---|
| ₹1,022.10 ( 0.94%) | ₹1,012.60 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for IRCTC.BO
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,059.80 | 4.66% |
| R2 | 1,045.40 | 3.24% |
| R1 | 1,036.50 | 2.36% |
| Price | 1,012.60 | |
| S1 | 1,007.70 | -0.484% |
| S2 | 998.80 | -1.36% |
| S3 | 984.40 | -2.78% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 1,057.65 | 4.45% |
| R2 | 1,054.15 | 4.10% |
| R1 | 1,029.15 | 1.63% |
| Price | 1,012.60 | |
| S1 | 969.50 | -4.26% |
| S2 | 918.85 | -9.26% |
| S3 | 912.70 | -9.87% |
IRCTC Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Nov 17, 2023 | Nov 17, 2023 | Nov 17, 2023 | ₹2.50 | 0.353% |
| 2 | Aug 18, 2023 | Aug 18, 2023 | Sep 24, 2023 | ₹2.00 | 0.301% |
| 3 | Feb 22, 2023 | Feb 22, 2023 | Mar 11, 2023 | ₹3.50 | 0.572% |
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