Indian Railway Catering and Tourism Corporation Ltd. (IRCTC) is a “Mini Ratna (Category-I)” Central Public Sector Enterprise under Ministry of Railways, Government of India. IRCTC was incorporated on 27th September, 1999 as an extended arm of the Indian Railways to upgrade, professionalize and manage the catering and hospitality services at stations, on trains and other locations and to promote domestic and international tourism through development of budget hotels, special tour packages, information & commercial publicity and global reservation systems.
Previous Close
679.7
TTM EPS
13.3
52 Week High
758.0
TTM PE
53.3
52 Week Low
557.1
P/B
22.8
Sector PE
55.9
Mkt Cap (Rs. Cr.)
56,588
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
IRCTC has been experiencing a “Prolonged Consolidation” following a sharp impulsive upmove witnessed between April 2021 and October 2021.
The stock is forming a pattern of “Higher Lows & Higher Highs” over the past few months.
Immediate support for the stock is anticipated around the 660 levels, with significant mid-term support at 590 levels. Holding above these levels suggests a bias toward a “Range to Up” trend.
In the immediate term, the stock seems poised for consolidation, with expectations of testing higher levels at 770 and a major level at 825 in the weeks to come
Open Interest Study
Expiry
CP
Strike
Open Interest
30 Nov 2023
CE
700
1639
30 Nov 2023
CE
710
1374
30 Nov 2023
CE
750
1265
30 Nov 2023
CE
720
1169
30 Nov 2023
PE
680
781
30 Nov 2023
PE
700
739
30 Nov 2023
PE
650
738
30 Nov 2023
PE
710
684
30 Nov 2023
PE
690
658
According to the OI Chain of the November series, IRCTC shows the highest CE build-up at 700, 710, and 750 strike rates, indicating an immediate hurdle.
Conversely, the maximum PE build-up is observed at 680 and 700 Strike Rates, suggesting a limited downside.
The PE build-up quantity is relatively lower compared to the CE build-up, implying that the counter may take time before a fresh upward movement in the coming days.
SBI Life Insurance, one of the most trusted life insurance companies in India, was incorporated in October 2000 and is registered with the Insurance Regulatory and Development Authority of India (IRDAI) in March 2001. Serving millions of families across India, SBI Life’s diverse range of products caters to individuals as well as group customers through Protection, Pension, Savings and Health solutions.
Previous Close
1359.9
TTM EPS
18.4
52 Week High
1434.5
TTM PE
78.9
52 Week Low
1,054.4
P/B
10.9
Sector PE
18.3
Mkt Cap (Rs. Cr.)
141,549
(Source: Moneycontrol, BSE, Fisdom Research)
Technical Outlook
(Source: Fisdom Research)
SBILIFE has encountered resistance around the 1350 levels since July 2022. Last week, the stock achieved new “All-Time” highs and initiated a breakout from consolidation.
The positional structure of the counter is bullish. Holding above 1320-1300 suggests a “Buy-On-Dip” bias across all three different time frames.
The counter may gradually aim for levels around 1480/1540 in the upcoming weeks.
The bias for mid-term delivery is “Accumulate.”
Open Interest
Expiry
CP
Strike
Open Interest
30 Nov 2023
CE
1360
1436
30 Nov 2023
CE
1430
1148
30 Nov 2023
CE
1450
873
30 Nov 2023
CE
1500
823
30 Nov 2023
CE
1420
703
30 Nov 2023
CE
1400
697
30 Nov 2023
CE
1380
611
30 Nov 2023
CE
1440
507
30 Nov 2023
PE
1350
464
In the SBILIFE Nov Option Chain, the maximum CE build-up appears at 1360 & 1430 Strikes, while the maximum PE build-up is evident at 1350, 1300, and 1400 PE Strikes.
Based on price study & OI chain analysis, the bias indicates a “Range to UP” trend, particularly above 1350 and the lower Strike PE support levels.
Disclaimer: This document is not intended for anyone other than the recipient. The contents of this document may not be reproduced or further distributed to any person or entity, whether in whole or in part, for any purpose. If you have received the publication in error please notify the sender immediately. If you are not the named addressee, you should not disseminate, distribute or copy this document. You are hereby notified that disclosing, copying, distributing or taking any action in reliance on the contents of this information is strictly prohibited. All non-authorised reproduction or use of this document will be the responsibility of the user and may lead to legal proceedings. This document has no contractual value and is not and should not be construed as advice or as an offer or the solicitation of an offer or a recommendation to take action in consonance in any jurisdiction. Finwizard Technology Private Limited (“Fisdom”) makes no guarantee, representation or warranty and accepts no responsibility or liability for the accuracy or completeness of the information and/or opinions contained in this document, including any third party information obtained from sources it believes to be reliable but which has not been independently verified. In no event will Fisdom be liable for any damages, losses or liabilities including without limitation, direct or indirect, special, incidental, consequential damages, losses or liabilities, in connection with your use of this document or your reliance on or use or inability to use the information contained in this document, even if you advise us of the possibility of such damages, losses or expenses. Fisdom does not undertake any obligation to issue any further publications or update the contents of this document. The information stated and/or opinion(s) expressed herein are expressed solely as general commentary for general information purposes only and do not constitute advice, solicitation or recommendation to act upon thereof. Fisdom does not have regard to specific investment objectives, financial situation and the particular needs of any specific person who may receive this document. The information contained within this document has not been reviewed in the light of your personal circumstances. Please note that this information is neither intended to aid in decision making for legal, financial or other consulting questions, nor should it be the basis of any investment or other decisions. Fisdom may have issued other similar documents that are inconsistent with and reach different conclusion from the information presented in this document. The relevant offering documents should be read for further details. You should make such researches/inspections/inquiries as it deems necessary to arrive at an independent evaluation of companies referred to in this document (including the merits and risks involved), and should consult its own advisors to determine the merits and risks involved. Fisdom makes no representations that the offerings mentioned in this document are available to persons of any other country or are necessarily suitable for any particular person or appropriate in accordance with their local law. Among other things, this means that the disclosures set forth in this document may not conform to rules of the regulatory bodies of any other country and investment in the offer discussed will not afford the protection offered by the local regulatory regime in any other country. Past performance contained in this document is not a reliable indicator of future performance whilst any forecasts, projections and simulations contained herein should not be relied upon as an indication of future results. The historical performance presented in this document is not indicative of and should not be construed as being indicative of or otherwise used as a proxy for future or specific investments. The relevant product documents should be read for further details. Fisdom does not undertake any obligation to issue any further publications to you or update the contents of this document and such contents are subject to changes at anytime.
More than 2 Lakh investors like you read our newsletter 'The Signal'
Subscribe now for easy to understand stock market insights in your inbox once a week
