IRFC shares have been trading in a narrow range of Rs 132–Rs 136 for the past six sessions and the daily chart structure shows the stock facing consistent resistance from a falling trendline, Drumil Vithlani, Technical Research Analyst at Bonanza said. “It is currently trading below its 50-day EMA, which adds to the near-term bearish bias,” he added.
IRFC shares are trading below their 50-day and 200-day simple moving averages of Rs 138.4 and Rs 138.2, respectively.
Given the prevailing structure, Vithlani recommends investors to avoid fresh long positions until a decisive breakout above Rs 136 is witnessed. “For existing holders, it is advisable to maintain a stop loss below Rs 132, as a breakdown below this level may trigger further downside pressure,” he warned.
Shares of IRFC today ended at Rs 134.43 on the NSE, gaining by Rs 0.59 or 0.44%.
Meanwhile, Anuj Gupta, Director at Ya Wealth Global Research sees a positive bias in the counter notwithstanding the extended range bound trade. In his view, the long term trend remains positive and he suggests a ‘buy on dips’ strategy. It has strong support at Rs 130 next support at Rs 120. The immediate resistance is placed at Rs 145 with the next level at Rs 160 levels.IRFC, which is the dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas capital markets, had a lackluster Q4FY25 earnings. The company reported a net profit of Rs 1,682 crore which was a decline of 2% over Rs 1,717 crore in the year ago period.The total revenue was reported at Rs 6,724 crore, which is a growth of 4% YoY versus Rs 6,478 crore in the corresponding quarter of the last financial year.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
