IRCTC shares have turned out a multi-bagger stock for the share market investors as the Indian Railways PSU stock has delivered more than 100 per cent returns to its shareholders since its listing on 14th October 2019. In the last one month, the IRCTC share price has hit its all-time high of Rs 1994 pr stock levels, however, it failed to hit Rs 2,000 levels as huge profit-booking triggered at these levels. but, stock market experts are still bullish about the IRCTC stocks and they are predicting the Indian Railways PSU share price to hit Rs 2,250 per stock levels in one month to three months’ time. According to them, IRCTC share price is expected to pick-up momentum as its third-quarter results are quite promising. Currently, the IRCTC share price is at Rs 1,712 levels.
Speaking on IRCTC share price outlook Simi Bhaumik, a SEBI registered technical equity expert said, “IRCTC share price is highly bullish as it has gone through near Rs 280 correction from its all-time high of Rs 1,994. Currently, the IRCTC share price is at Rs 1,712 per stock level, which is around 14 per cent lower than its all-time high. From now onwards, one should start buying IRCTC shares for the target of Rs 2,250 in short-term to mid-term means one month to three months.” Bhaumik said that the IRCTC share price may go down further up to Rs 1,500 per stock level. So, rather getting panic, a stock market investor should further add if it goes down around 5 per cent down from current levels. She advised buying IRCTC shares in a calibrated manner rather than pumping the whole amount at the current levels.
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On investment strategy in regard to IRCTC shares; Chandan Taparia, Derivative & Technical Analyst at Motilal Oswal said, “IRCTC was expected to witness profit-booking to the tune of 15-20 per cent from its all-time high of Rs 1,994 per stock levels. 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 1,650 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 2000 in the next one month. Dubbing this as a big money-making opportunity, Taparia advised share market investors to maintain the stop loss at Rs 1350 levels.