IRCTC share price today: WAIT for more correction, says expert as stocks falls on Wednesday - What investors should know for gains

IRCTC share price today: Investors who are willing to invest in this stock should wait for some more correction, Technical Analyst Nilesh Jain, who is Assistant Vice President (AVP), Equity Research Technical and Derivatives at Centrum Broking said. If you are planning to invest in IRCTC shares, you should know this important thing about this counter. 

This stock is now positioned to attain new highs in the short to positional medium term, but the right levels are still to come, he added. Calling this a SUPER STOCK, this analyst said that the strength in this stock will continue offering opportunities to earn big gains.

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IRCTC stock today ended at Rs 2017.90, falling by Rs 8.80 or 0.4 per cent on NSE after attaining a lifetime high of Rs 2073 on Tuesday.    

The company is into a monopoly business and has huge upside from the current levels, Jain said.    

The IRCTC stock has seen this breakout after a long time and is now moving in unchartered territory. It had consolidated in the 1300-1400 range for a long time.    

IRCTC Share Price – Top Indicators    

The IRCTC stock is looking strong on the technical charts and has seen a breakout from the levels around Rs 2000, Jain said. He said that the short term targets in this stock is between Rs 2400 and Rs 2500 while the positional target of this stock is Rs 2700.    

IRCTC share price strategy    

For those investors who want to take fresh positions, he said that a wait and watch strategy is recommended. He said that buy on dips is recommended in this stock. The right levels to enter this stock is around Rs 2000. He said that he expects the prices to come down in next 1-2 trading sessions.  

Jain said that those investors who are holding the IRCTC stock should continue to maintain a long position. He puts the stop loss at Rs 1960.    

The 52-week low is Rs 774.65 which was achieved on 26 March 2020.