IRFC Share Price Takes Support from 52-week Lows; Resistance at Rs 137
IRFC share price closed almost flat on Monday and the stock has currently taken support from 52-week lows. Indian markets opened weak today but we witnessed strong buying at lower levels. IRFC stock has declined 32 percent over the last six months. NSE Nifty touched intraday low at 22,725 before recovering to close in the green (up by just 30 points). The yearly low for NSE Nifty is 21,281 and if selling pressure doesn't stop, we could soon witness fresh lows for indices.
Indian Railway Finance Corporation (IRFC), the dedicated financing arm of the Indian Railways, plays a pivotal role in funding the nation's expansive rail infrastructure. As of February 17, 2025, IRFC's stock is trading at ₹121.78, reflecting a significant journey over the past year with a 52-week high of ₹229.00 and a low of ₹116.65. TopNews Team delves into IRFC's recent market performance, technical indicators, and comparative analysis within the financial sector.
Market Performance Overview
IRFC's current market capitalization stands at ₹1.59 lakh crore, with a Price-to-Earnings (P/E) ratio of 24.40 and a dividend yield of 1.23%. The stock's 52-week range spans from ₹116.65 to ₹229.00, indicating notable volatility.
| Metric | Value |
|---|---|
| Market Cap | ₹1.59 Lakh Crore |
| P/E Ratio | 24.40 |
| Dividend Yield | 1.23% |
| 52-Week High | ₹229.00 |
| 52-Week Low | ₹116.65 |
Technical Analysis
Candlestick Patterns
A review of IRFC's daily candlestick charts reveals a prevailing bearish trend. The formation of consecutive long-bodied red candles indicates sustained selling pressure. Additionally, the appearance of a "Three Black Crows" pattern—a series of three consecutive declining candlesticks—reinforces the bearish sentiment.
Fibonacci Retracement Levels
Applying Fibonacci retracement from the 52-week high of ₹229.00 to the recent low of ₹116.65, key levels emerge:
23.6% Retracement: ₹144.38
38.2% Retracement: ₹161.47
50% Retracement: ₹172.83
61.8% Retracement: ₹184.19
The current trading price below the 23.6% retracement level suggests limited bullish momentum, with potential resistance anticipated at these Fibonacci levels.
Support and Resistance Levels
Identifying critical support and resistance zones:
Immediate Support: ₹116.37
Immediate Resistance: ₹137.05
A breach below the support at ₹116.37 could signal further declines, while surpassing the resistance at ₹137.05 may indicate a reversal of the current downtrend.
Investment Considerations
The technical indicators for IRFC currently point towards a bearish outlook. Analyst projections suggest potential downside, with price targets significantly below the current market price. Investors are advised to exercise caution, closely monitor support levels, and consider broader market conditions before making investment decisions.
