IRFC Share News: Indian Railway Finance Corporation (IRFC) is one of the best-performing PSU stocks on investor watchlists. IRFC shares jumped by more than 20% in the last 5 trading sessions. This rally came after strong technical signals, new railway capex and global market sentiment. The stock is popular among investors and currently showing a bullish reversal on the technical chart.
Market expert Prameela Balakkala and Anupam Bajpai have shared valuable insights on IRFC along with Technical Analysis, support resistance and Price targets, check details.
IRFC Share Price
IRFC shares are currently trading at Rs 138.79 on NSE with a 6.56% gain. In the last 5 trading sessions, IRFC has gained as much as 20% delivering substantial returns to shareholders. However the stock has delivered negative returns of 16.34% in the last one year and is currently trading below 43.2% from its all-time high of Rs 229.
IRFC Stock Analysis
The RSI at 57.2 indicates that IRFC shares are currently neither trading in oversold zone or overbought zone. The stock is currently trading above its 5-day, 10-day, 20-day, 30-day and 50-day moving averages, indicating a potential short-term bullish uptrend. On the other hand, IRFC is trading below 100-day, 150-day and 200-day moving averages which indicates that the stock could potentially consolidate if it fails to sustain the next resistance level.
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IRFC Technical Analysis
According to market experts Prameela, the Relative Strength Index (RSI) of IRFC increased to 57.2 on the technical front. Let us tell you that IRFC trading volume has increased along with the RSI which indicates the rising interest of investors.
Additionally, IRFC showed a short-term bullish momentum and trading above its 20-day and 50-day EMAs on daily charts.
According to the market expert, IRFC shares will experience a mid-term rebound as the stock is currently trading above its 20-day EMA on the weekly chart.
IRFC Share Price Target
SEBI registered stock advisor Prameela Balakkala has set a longer-term target of Rs 230 for IRFC shares, which represents a 80% upside from the current price. In the short-term, IRFC shares could reach Rs 165 – Rs 180, if a breakout above Rs 130 which is acting as a strong resistance zone.
Anupam Bajpai, a technical analyst, also said that IRFC is signalling breakout signs on daily charts. He pointed out that IRFC had just closed over the crucial Rs 126 resistance after a rounding bottom pattern, which was backed by high volume.
Since the stock had already broken through the lower Bollinger Band, he saw this as a typical reversal situation.
Rs 126 is currently acting as a critical support level, and Bajpai forecasted a short term target of Rs 136 for IRFC shares.
On the technical chart, the stock closed above its 20-day Moving Average and 50-day Exponential Moving Average which has strengthened the bullish sentiment. With the stock breaking key levels, IRFC could experience a strong rally in the next few months.
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Experts View on IRFC Share
According to Stocktwits advisor Prameela Balakkala, a SEBI registered stock advisor, IRFC is a technically promising and fundamentally strong public sector stock. The company is the backbone of Indian Railways for the development and construction. It is also supported by a 100% government guarantee and steady long-term lease cash flows. In addition the company also offers a high Dividend yield to investors. IRFC is an undervalued stock with a PE ratio of 8.9 and solid margins when ch makes it one of the best long-term stocks for investors.
Analysts predict that IRFC may experience steady gains over the next few months due to tailwinds from India’s push for rail infrastructure and developments, which includes the bullet train project and the electrification work.
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