New Delhi. Railway Shares have shown tremendous growth in the last one week, but now slight profit booking is being seen from the upper levels. In fact, after showing huge growth in 5 trading sessions, IRFC shares are trading with a decline on December 29. Profit booking has been done in IRFC shares from the level of Rs 135.
On December 19, the shares of Indian Railway Finance Corporation were at Rs 111, from here the rising trend started and on December 29, the shares hit a high of Rs 137.
18% return in 1 week
IRFC shares have given more than 18 percent returns within a week. The special thing is that this rise in this railway share has come after 10 months. In fact, after the budget in February this year, IRFC shares had fallen continuously from Rs 155 to a low of Rs 108 in March.
After being in the range for about 10 months, IRFC shares are again seeing a rise, which has come before the budget.
At what price to buy IRFC shares?
Is the fall in IRFC shares a buying opportunity after showing a good rally for a week? Jigar S Patel, Senior Manager, Equity Research at Anand Rathi Investment Services has given his opinion on this. “IRFC shares have good support at Rs 125 and upside resistance at Rs 137,” said Jigar Patel.
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In such a situation, there is a buying opportunity in this stock at the level of Rs 125. At the same time, if this stock again breaks the level of Rs 137, then the target of Rs 142 will be easily achieved.
(Disclaimer: The information given here regarding shares is not an investment opinion. Since investing in the stock market is subject to market risks, please consult a certified investment advisor before investing.)
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