IRFC, RVNL, IRCON, RITES, RailTel: PL shares price targets for ...
IRFC, RVNL, IRCON, RITES, RailTel: PL shares price targets for these railway stocks
Indian Railway Finance Corporation Ltd (IRFC), Rail Vikas Nigam Ltd (RVNL), IRCON International Ltd and Corporation of India Ltd are a few stocks that PL said look good on technical charts.
Railway shares: Domestic brokerage Prabhudas Lilladher (PL) has come out with a thematic report on railways stocks, where it suggested target prices and stock losses for shares such as Indian Railway Finance Corporation Ltd (IRFC), Rail Vikas Nigam Ltd (RVNL), IRCON International Ltd and Corporation of India Ltd, based on technical analysis. This is what the brokerage said:
RVNL share price target
PL said the RVNL stock has picked up well from its 50-EMA level of Rs 252, gaining strength. It has moved past its previous peak zone of Rs 271 level, improving its bias. The RSI has spiked after the consolidation period, signalling 'buy'. With the chart looking attractive, the brokerage suggested a 'buy' on the stock for an upside target of Rs 340 level keeping the stop loss at Rs 255 level.
IRFC share price target
IRFC stock, which was in a consolidation phase, moved past the important 50-EMA level of Rs 141.50 and improved its bias. The stock is anticipated to perform well in coming days. The RSI has shown improvement with a trend reversal, indicating a 'buy'. The stock has potential to carry on with the positive move. With the chart looking attractive, PL suggested to 'buy' the stock for an upside target of Rs 195 level, keeping the stop loss of Rs 131 level.
IRCON International share price target
IRCON International, which had been consolidating, recently took support of Rs 212, moving past its significant 50-EMA level of Rs 220. The scrip may see further rise in coming days. The RSI has indicated a trend reversal signaling a 'buy' and is well-placed to see potential upside. PL suggested a 'buy' on the stock for an upside target of Rs 280 level, keeping the stop loss at Rs 210 level.
RITES share price target
RITES has indicated a higher-low formation on the daily chart, taking support near Rs 634 zone. With a pullback, it just moved past the 50-EMA zone of Rs 673 and improved its bias. The RSI is well placed and the upside potential is visible, which can propel the stock to higher targets of Rs 760 and Rs 805 levels in coming days. With the chart looking good, PL suggested buying the stock for an upside target of Rs 805, keeping the stop loss at Rs 617 level.
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Published on: Apr 24, 2024, 2:55 PM IST
