IRCON - Technical Analysis with Chart Patterns & Indicators
Back to ListTechnical Rating: 3.8
| Stock Code | IRCON | Market Cap | 14,315 Cr. | Current Price | 152 ₹ | High / Low | 226 ₹ |
| Stock P/E | 22.2 | Book Value | 68.7 ₹ | Dividend Yield | 1.74 % | ROCE | 14.7 % |
| ROE | 11.6 % | Face Value | 2.00 ₹ | DMA 50 | 143 ₹ | DMA 200 | 159 ₹ |
| Chg in FII Hold | 0.24 % | Chg in DII Hold | 0.07 % | PAT Qtr | 91.2 Cr. | PAT Prev Qtr | 185 Cr. |
| RSI | 60.7 | MACD | 5.47 | Volume | 25,55,449 | Avg Vol 1Wk | 26,74,447 |
| Low price | 114 ₹ | High price | 226 ₹ | PEG Ratio | 2.52 | Debt to equity | 0.00 |
| 52w Index | 33.9 % | Qtr Profit Var | -35.2 % | EPS | 6.85 ₹ | Industry PE | 18.5 |
📈 IRCON is trading above its 50 DMA (₹143) but below the 200 DMA (₹159), showing short-term strength but medium-term resistance. RSI at 60.7 indicates healthy momentum, while MACD at 5.47 confirms bullish crossover. Bollinger Bands suggest price moving toward the upper band, reflecting buying interest. Current volume (25.5 lakh) is close to average (26.7 lakh), showing steady participation.
🔑 Short-term momentum signals: Bullish bias, but sustainability depends on breaking above ₹159.
🎯 Entry Zone: ₹148–₹152 (support region)
🚪 Exit Zone: ₹165–₹170 (resistance region)
📊 Trend Status: Consolidating with bullish tilt
Positive
- Trading above 50 DMA supports short-term strength
- Strong ROCE (14.7%) and ROE (11.6%)
- Dividend yield of 1.74% provides income cushion
- Debt-free balance sheet (Debt-to-equity: 0.00)
- FII (+0.24%) and DII (+0.07%) holdings increased
Limitation
- Quarterly profit variation (-35.2%) shows earnings pressure
- P/E (22.2) higher than industry average (18.5)
- PEG ratio at 2.52 indicates stretched growth valuation
- Price struggling to sustain above 200 DMA
Company Negative News
- Quarterly PAT dropped from ₹185 Cr. to ₹91.2 Cr.
- Valuation premium compared to industry peers
Company Positive News
- Institutional holdings increased (FII +0.24%, DII +0.07%)
- Strong fundamentals with debt-free structure
- 52-week return of 33.9% reflects investor confidence
Industry
- Industry PE at 18.5 highlights sector trading at lower multiples
- Infrastructure sector supported by government spending on railways and construction projects
Conclusion
⚖️ IRCON shows short-term bullish signals with RSI above 60 and positive MACD, but faces resistance near 200 DMA. Entry near ₹148–₹152 offers favorable risk-reward, with profit booking around ₹165–₹170. Trend remains consolidative with bullish tilt, requiring sustained breakout above ₹159 for stronger upside momentum.
Would you like me to extend this into a swing-trade overlay comparing IRCON with peers like RVNL, IRFC, and IREDA to highlight sector-relative strength and positioning?