IRCTC shares have declined by 3.19%

On 19th September 2024, IRCTC shares opened at ₹911.9 and are currently trading at ₹876.85, marking a 3.19% decline. The stock hit a high of ₹915 and a low of ₹876.4 during the day, with Sensex rising by 0.54%. Despite the positive movement in the broader market, IRCTC's decline stands out, especially for those involved in share market investment.

Key technical indicators for IRCTC

From a technical standpoint, IRCTC shares are currently trading below all significant short-term and long-term simple moving averages. For instance, the 5-day SMA is at ₹932.08, and the 300-day SMA stands at ₹950.71. This is a strong signal of a downward trend. Additionally, the volume traded today was 40.79% higher than the previous session, suggesting increased selling pressure.

For share market investment, understanding these trends is essential. The key resistance levels are placed at ₹925.65, ₹945.1, and ₹957.3, while the support levels are ₹894.0, ₹881.8, and ₹862.35.

How does IRCTC compare to its peers?

While IRCTC is experiencing a sharp decline, its peers in the travel sector show mixed results. Companies like Thomas Cook India, Easy Trip Planners, and Kaya have also seen drops, though others are performing better. The benchmark indices Nifty and Sensex, however, continue to rise by 0.52% and 0.54%, respectively. This highlights the importance of sector-specific analysis in share market investment decisions.

Key takeaways

• IRCTC's share price is down 3.19% at ₹876.85.
• Stock is trading below all major short-term and long-term moving averages, signalling a downtrend.
• Increased trading volume suggests further price movement, likely downward.
• Support levels are ₹894.0, ₹881.8, and ₹862.35.
• IRCTC's peers are showing mixed results, while Sensex is trading positively.

Understanding these market movements is crucial for making informed share market investment decisions.