IRFC Share Today Break 182 or Fall Below 177, See Top 3 Support and Resistance Levels
The Indian Railway Finance Corporation (IRFC) share price is a hot topic today, August 30, 2024. As of the latest updates, the share price stands at ₹180, reflecting a slight decrease from the previous close of ₹180.85. Investors are keenly watching the stock’s performance, especially given its recent volatility and market movements.
Main Points
Live Today
As of now, the IRFC share price is fluctuating in the range of ₹179 to ₹181. The stock opened at ₹179 and has seen a high of ₹181.78 during the trading session. The trading volume has been significant, with over 15 million shares exchanged, indicating robust investor interest.
Next Day Price Forecast
Looking ahead, analysts suggest that the IRFC share price may experience continued fluctuations. Based on current trends, the next day price forecast remains cautious. If the price can maintain above ₹179, it could signal a potential rebound towards ₹184. Conversely, if it falls below ₹177, further declines could be expected.
Technical Analysis
Important Levels
- Support Levels: ₹179, ₹177.51, ₹176.32
- Resistance Levels: ₹181.72, ₹182.91, ₹184.42
The technical indicators show a mixed outlook. The Relative Strength Index (RSI) is currently at 44.80, suggesting that the stock is nearing oversold conditions. The Moving Average Convergence Divergence (MACD) is negative, indicating bearish momentum. Traders should watch these levels closely for potential entry or exit points.
Fundamental Analysis
IRFC is a public sector undertaking that plays a crucial role in financing the Indian Railways. Its financial health is reflected in its recent earnings report, which showed a 15% increase in net profit for the last quarter. The company’s market capitalization is approximately ₹239,546 crores, with a Price-to-Earnings (P/E) ratio of 37.20, which is relatively high compared to industry standards.
52 Week High/Low
- 52 Week High: ₹229.05 (July 15, 2024)
- 52 Week Low: ₹47.90 (August 24, 2023)
The significant difference between the 52-week high and low highlights the volatility in IRFC’s share price. Investors should consider this when making decisions.
Today Target Prediction
For today, the target prediction for IRFC is set at ₹181. If the stock can break through this resistance, it may aim for ₹184. However, if it fails to hold above ₹179, it could see a decline towards ₹176.
Buyback News
Currently, there is no confirmed buyback news from IRFC. However, the company has been consistent in rewarding its shareholders with dividends. Recently, a dividend of 7% was announced, which may attract income-focused investors.
Movement Causes
The movement in IRFC’s share price can be attributed to several factors:
- Market Sentiment: Overall market conditions and investor sentiment towards public sector stocks.
- Economic Indicators: Changes in interest rates and inflation can impact the financing costs for IRFC.
- Government Policies: Any new policies regarding railways can also affect IRFC’s operations and profitability.
