IRCTC share price to soar, give whopping 125% returns; Experts reveal investment strategy in multibagger stock
IRCTC share price may hit Rs 2,000 by end of 2020 if it sustains above Rs 1,000 per stock levels. Experts advise trailing stop loss of Rs 970 rather than booking profit above Rs 1,000 levels.
IRCTC share price has been soaring since debut and has given more than 150 per cent returns to its investors ever since it got listed on 14th October 2019. Since induction at the BSE and the NSE, the IRCTC share price has scaled from Rs 625 to Rs 980.90 per share level. However, the Indian Railways PSU has failed to break the psychological Rs 1000 per stock level. According to stock market experts, the IRCTC stock price may witness some profit-booking in the next four to five days and in this correction, it may fall to Rs 800 level. They are of the opinion that this dip in the IRCTC stock would be an excellent buying opportunity for the share market investors as it would soon hit Rs 920 levels in about one month.
Speaking on IRCTC share price, outlook Prakash Pandey, MD & CEO at Plutus Advisors said, "IRCTC shares can be considered as a trader's stock. IRCTC stock has crossed Rs 900 level thrice, but it failed to sustain above these levels and break the psychological Rs 1000 per stock level. So, before it breaks this level, it is expected to behave like a trader's stock and share market investors can adopt buy on dips strategy in the counter maintaining stop loss at Rs 740."
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Pandey said that if someone wants to hold IRCTC for long, then they should wait for the IRCTC counter till it breaks Rs 980.90 level, which is it's lifetime high. If the IRCTC shares go beyond Rs 980 and break Rs 1,000 level, then they should maintain a trailing stop loss around Rs 970. If it sustains above Rs 1,000 then we can witness a fresh rally in the counter for around Rs 1,500 per stock levels!
Speaking on the IRCTC share price outlook, Simi Bhaumik, a SEBI registered technical equity analyst said, "The IRCTC share price chart shows that the counter is highly bullish. It may witness some fresh correction of around Rs 60 to Rs 70 from current levels and hence I recommend a share market investor to buy IRCTC shares at around Rs 800 to Rs 825 and hold it for a longer period. In one year's time, the IRCTC shares may hit Rs 2,000 levels giving more than 100 per cent returns to the IRCTC share buyers by the end of 2020."
Elaborating upon the investment strategy that a share market investor can adopt in IRCTC shares, Pandey said that one should not invest his or her entire surplus amount in the Indian Railways PSU at one time. He advised investors to invest around 50 per cent of their money at around Rs 800 levels and if it further goes down they should keep on adding till Rs 750 level. It will help investors to avail the averaging of the net buying price of the IRCTC shares, said Pandey.
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