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Are IndiGo, SpiceJet and IRCTC a good contrarian bet? What charts say

As the nation-wide lockdown enters its fourth phase, albeit with some relaxations, air and rail travel continues to be suspended. Most of the related stocks in these two sectors have taken a hit

Topics
Chart Reading | stocks technical analysis | technical analysis

Avdhut Bagkar  |  Mumbai 

As the nation-wide lockdown enters its fourth phase, albeit with some relaxations, air and rail travel continues to be suspended. Most of the related stocks in these two sectors have taken a hit at the bourses over the past few weeks.

Does the fall in these counters present a good entry point for someone who is willing to hold these for the next 12 - 24 months? Here's how they look on the technical charts. Indian Railway Ctrng nd Trsm Corp Ltd (IRCTC): The stock witnessed a rally of around 80 per cent from its March 2020 low of Rs 800 levels till mid April 2020. Given suhc a massive ...

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First Published: Tue, May 19 2020. 12:43 IST
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