IRCTC, RVNL: Can Budget 2025 trigger a rally in rail stocks? Tech view here

Railway-related stocks such as IRCTC, RVNL, Texmaco, RailTel and Container Corp are testing support on the long-term charts; as long as these supports are respected a pullback rally seems possible.

The countdown to Union Budget 2025, which will be presented on February 01, 2025, Saturday has begun. The finance minister Nirmala Sitharaman will be presenting her 8th consecutive Budget, and the second in the third-term of Modi government.  The Railway Budget will also be tabled in Parliament on Saturday. As per reports, brokerages are expecting Railways capex to exceed Rs 3 lakh crore, as against Rs 2.65 lakh crore for FY24. Meanwhile, industry players were also pinning hopes on significant announcements for the railway sector, particularly in freight operations and infrastructure development.  With the government's focus on sustainability and its net-zero mission, the logistics sector anticipates increased attention on railways and waterways in the upcoming budget. Expectations are rife for a 10-20 per cent boost in the railway budget from the previous allocation.  Against this background, here's a technical check on select railway-related stocks.  IRCTC  Current Price: Rs 757  Upside Potential: 16%  Support: Rs 747; Rs 720  Resistance: Rs 814; 830; Rs 840  IRCT stock has slipped back below its short-term, the 20-DMA (Daily Moving Average), which stands at Rs 776. The daily chart, however, shows presence of near support at Rs 747; below which major support for the stock stands at Rs 720 - the 200-WMA (Weekly Moving Average). CLICK HERE FOR THE CHART  As long as these support levels are respected, the stock can expect a pullback rally. On the upside, the stock can potentially jump to Rs 878 with intermediate resistance expected around Rs 830 and Rs 840 levels. On the other downside, as long as the 20-DMA support at Rs 776 is respected, the stock can hope for some consolidation. Break and sustained trade below the same can trigger a fall towards Rs 720 levels.    RVNL  Current Price: Rs 392  Upside Potential: 32.7%  Support: Rs 390  Resistance: Rs 455  RVNL is seen consolidating around its super trend on the weekly scale since the start of the New Year. The key weekly support for the stock stands at Rs 390; below which the stock can dip back to Rs 360 levels. On the upside, the stock needs to break and hold above Rs 455, for the sentiment to revive at the counter. On the upside, the stock can zoom to Rs 520 levels. CLICK HERE FOR THE CHART  Texmaco Rail  Current Price: Rs 181  Upside Potential: 21.6%  Support: Rs 178  Resistance: Rs 207; Rs 211  Texmaco Rail is seen trading with a negative bias on the daily and weekly scale; but at the same time seeking support around its 20-MMA (Monthly Moving Average) at Rs 178. As long as the stock manages to sustain above the same on a monthly closing basis, a pullback rally towards Rs 220 seems likely, with interim resistance placed at Rs 207 and Rs 211. CLICK HERE FOR THE CHART  Container Corporation  Current Price: Rs 737  Upside Potential: 20.8%  Support: Rs 718  Resistance: Rs 808; Rs 824; Rs 837  Container Corporation stock has been making lower-highs and lower-lows on the daily scale for the last 7 months. At present, the stock is seen seeking support around its 200-WMA (Weekly Moving Average) at Rs 718, with key momentum oscillators in oversold zone. CLICK HERE FOR THE CHART  Hence, as long as this support is protected, the stock could consolidate and attempt a pullback towards Rs 890 levels. Interim resistance for the stock are placed at Rs 808, Rs 824 and Rs 837 levels.  RailTel  Current Price: Rs 367  Upside Potential: 25.3%  Support: Rs 355; Rs 345  Resistance: Rs 404; Rs 420; Rs 430  RailTel stock is seen seeking support at its 20-MMA, which stands at Rs 355; below which immediate support for the stock exists at Rs 345 in the form of the weekly super trend line. Thus, as long as these support levels are protected the stock can attempt pullback towards Rs 460 levels; with intermediate resistance likely around Rs 404 Rs 420 and Rs 430 levels. CLICK HERE FOR THE CHART