IRCTC- OFF THE TRACK?
A stock which was a hot pick earlier has now vanished. After the bumper IPO and an extremely amazing Rally suddenly the stock forgot it was known for its extreme moves.
Here’s a small analysis on IRCTC :
In the picture above i have marked two areas near the volume; one with the Blue Arrow clearly depicts that around February the Volumes were extremely high and so was the movement in the stock.
After the Crash like every other stock it fell but didn’t have the recovery as was expected by the shareholders. Area marked with Red Arrows depict that there is extremely less volume being traded in the stock, has everyone lost interest in the stock or is something cooking up?
To support this i’d like to add another chart below :
The Indicator is Bollinger Bands which is a Momentum Indicator and used to analyse Volatility.
With BB contracting it is indicating that there is strong move expected either side.
With almost all the stocks recovering very fast and Index in an uptrend the stock not showing any movement might be a matter of concern.
Only time will tell what it has for its Shareholders.
Drop in your views so that we can come to a conclusion.
For More Information on Bollinger Bands: