Fundamental Analysis of IRCTC Share
IRCTC is a very strong fundamental company. It is a monopoly government company. The full form of IRCTC is Indian Railway Catering and Tourism Corporation. This company provides online railway ticket booking service. This company also provides service of flight and bus tickets along with railway tickets. The government has given authority to this company for railway ticket booking. Even if any other platform or app provides railway ticket booking service, then only IRCTC’s ticket booking ID will have to be used in it. For rxapmle if you want to book railway ticket through Paytm then you will have to create IRCTC ID. Therefore, this government company has a monopoly in railway ticket booking. IRCTC provides breakfast service in railways and railway stations. The main profits of this company come from online ticket booking and selling food. If we talk about the revenue and profit of this company then it is increasing quarter on quarter and year on year. This is a good sign. You would know that internet is being used a lot in India now. Therefore maximum people are now going to switch to online railway ticket booking. Even now there is going to be a lot of growth in this company. You would know that the current government is spending a lot of money on railways. The government is investing a lot of money to expand the railway infrastructure in India. The Indian government wants that people in India should get very good railway facilities. The Indian government has launched modern railways like Vande Bharat. As the Indian government will try to improve the Indian railways, similarly the number of people travelling by train in India will increase. If the number of people travelling by railways in India increases, then online ticket booking in IRCTC will increase and IRCTC will get a good profit.
Technical Analysis of IRCTC Share
Now we will do the technical analysis of IRCTC. This company has touched a high of 1284 and a low of 563. The stock of this company is currently moving in a flag pattern. Currently the current price of IRCTC is 855. This share has bounced from low 563 to near 1100 and then fell again to the support of 855. This share has fallen 56% from the high of 1284 to a low of 563. So we have to assume an up movement of 56% from the high of 1284 because this is a 50% down strategy. I have uploaded a video on my youtube channel on 50% startegy, click here. After bouncing from 855 to 1284 breakout, there is a possibility of this stock reaching 2000. I have uploaded a youtube video. Above is the video on how FIIs operate in the Indian stock market. Please do watch it.