IFCI shares jumped nearly 9% on Thursday, 8 October, even as the broader stock market remained under pressure. However, technical indicators suggest that the stock continues to face resistance at higher levels, with analysts cautioning that the recent upmove could be a relief bounce rather than a trend reversal.
IFCI share price today opened at ₹64.08 apiece on the BSE, the stock touched an intraday high of ₹69.81 per share, and an intraday low of ₹63.28 per share.
The stock has gained 4.11% in the past week and 22.59% over six months, while its year-to-date gain stands at 27.91%. However, IFCI shares have declined 9.75% in two weeks, 26.73% in one month and 8.07% over three months.
Relief bounce faces resistance
Virat Jagad, Senior Technical Research Analyst at Bonanza, said IFCI has witnessed a 5.61% relief bounce from the ₹63.30 support level and is now testing a key horizontal resistance zone of ₹67.60– ₹68.
“Trading below its 20, 50, 100 and 200 EMAs with RSI at 39, overall momentum remains weak,” Jagad said.
He added that the stock would need to sustain a move above ₹69.50, its 200-EMA, for a meaningful trend reversal. Otherwise, downside risks remain, with the stock potentially moving towards ₹60.
Analyst warns of a possible dead-cat bounce
Hitesh Rathi, Technical Analyst – Equity & Derivatives at Angel One, said IFCI remains weak following a bearish trend reversal across all time frames.
According to Rathi, the stock has formed a bearish 100% pole, indicating that it has retraced the entirety of its previous upmove. Given the sharp 40–45% decline over a short period, he believes some exhaustion on the downside is possible.
“Any upmove should be seen as a dead-cat bounce and treated with caution,” Rathi said.
IFCI Q1 FY27 financials
The company’s consolidated net profit declined 16.10% year-on-year to ₹33.52 crore in the quarter ended June 2026, compared with ₹39.95 crore in the year-ago period.
Sales also declined 19.68% to ₹327.06 crore during the quarter, from ₹407.18 crore in the corresponding quarter of the previous year.
With the stock still below key moving averages and recent financial performance remaining subdued, analysts suggest that ₹69.50 will be a crucial level to watch on the upside, while ₹60 remains an important downside level.
Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
