IRCTC share price: Rs 2,000! Golden chance for making money - Must read advice by stock market experts
IRCTC share price is expected to hit Rs 1650 per stock levels in immediate terms means in around one month, say stock market experts.
IRCTC share price rose around 11.5 per cent in the intraday trade on strong IRCTC Q3 results and hit an all-time high of Rs 1609.80 per stock levels. IRCTC results reported Rs 205.80 crore profit and announced Rs 10 dividends for its shareholders that also fuelled the IRCTC shares rally at Indian indices. According to the stock market experts, the IRCTC share price is still bullish and it can dip to the tune of 3-4 per cent should be seen as a buying opportunity in the IRCTC stocks.
Speaking on the IRCTC share price Simi Bhaumik, a SEBI registered technical equity analyst said, "IRCTC shares are still bullish and one should buy the IRCTC share once it dips around Rs 70-75 from current levels. IRCTC shares are expected to dip in the next one to two trade session and that should be seen as a buying position and after that, one should go long as the IRCTC share is a portfolio stock."
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On investment strategy in regard to IRCTC shares; Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, "IRCTC is expected to undergo profit-booking as it has hit its all-time high and is still trading at its all-time high. So, in my opinion, one should buy IRCTC shares in a calibrated manner investing near 50 per cent of one's surplus money on the first dip at around Rs 1500 and keep on adding till it is above Rs 1350 per stock levels." Asked about the immediate target that one can expect in IRCTC shares, Taparia said that IRCTC share's immediate target is Rs 1600 to 1650 in the next one month. However, he advised share market investors to maintain the stop loss at Rs 1350 levels.
On long-term targets for IRCTC shares, Simi Bhaumik said, "IRCTC share price is expected to hit Rs 2,000 in the next six months." She said that IRCTC share is a portfolio stock and one should keep on buying every time it hits all-time high and dips around 3-4 per cent.
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