The analyst said the stock is showing strong technical momentum following a bullish moving average crossover and sustained support at the 200-DMA.
RailTel Corp Ltd (RAILTEL.NSE) will see further stock price growth based on key technical indicators, according to SEBI-registered analyst Anupam Bajpai.
At the time of writing, RailTel shares were trading at ₹396.00, down ₹5.45 or 1.36% on the day.
Since May 27, the stock has maintained a position above its 200-day moving average, which, per Bajpai, currently functions as strong support.
On May 23, he pointed out the bullish crossover of the 20-day moving average over the 100-day moving average, which generally indicates increasing upward momentum.
The stock's value increased by 3.56% and reached ₹401.45 during trading on May 29.
Bajpai predicted that the stock would approach ₹420 soon, and the ₹386 200-day moving average would function as a critical stop-loss point.
Meanwhile, the Relative Strength Index (RSI) reading of 71 signals strong buying momentum. However, the analyst cautions investors about the possibility of overbought market conditions.
RailTel Corp provides telecommunications services, including HD video conferencing and data centers, RailWire broadband and additional IT and telecom solutions.
According to Bajpai's technical analysis, RailTel shares' recent performance demonstrates resilience and the potential for a sustained rally.
On Stocktwits, retail sentiment was ‘bullish’ amid ‘normal’ message volume.
The stock has declined 2.2% so far in 2025.
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