Are railway stocks poised for further gains ahead of the Union Budget?

According to Athawale, the sharp technical bounce indicates the potential for further upside from the current levels. According to Athawale, the sharp technical bounce indicates the potential for further upside from the current levels. Jupiter Wagons emerged as the standout performer, climbing nearly 8% to ₹335, while RailTel Corporation rose nearly 5.3% to close at ₹360. Rail Vikas Nigam gained 3% to ₹342.60. Titagarh Rail and Texmaco Rail advanced 2% and 1%, respectively. Analysts attributed the rally to be largely sentiment-driven fuelled by budget related expectations. "The rally was initiated by the conversion of a preferential issue by the promoters of Jupiter Wagons, which triggered a sharp up move in the stock which in turn, spilled over into other EPC-focused railway businesses," said Sunny Agrawal, head - Fundamental Research, SBI Securities. With the Union Budget scheduled for February 1, analysts said railway stocks are seeing heightened activity as investors position themselves ahead of possible increases in budgetary allocations and a continued push on infrastructure, Agrawal said. From a fundamental standpoint, SBI Securities prefers to remain with wagon-related businesses, where structural demand appears stronger. Agrawal recommends, any further rally ahead of the budget should be seen as an opportunity to book profits in these names, while retaining a focus on businesses with more sustainable growth drivers. Meanwhile, Amol Athawale, VP, Technical Research, Kotak Securities, said IRCTC is currently trading above the 20-day SMA (Simple Moving Average), which is largely positive. For traders, the 20-day SMA, or 675, will act as a key support zone. If the stock manages to stay above this level, it could bounce back towards the 50-day SMA or 700 and 710, while Titagarh stock has rallied over 6% in the last 2 sessions. According to Athawale, the sharp technical bounce indicates the potential for further upside from the current levels. For trend-following traders, the 800 or 20-day SMA (Simple Moving Average) will serve as crucial support zones. As long as the price remains above this level, the pullback formation is likely to continue. On the upside, the stock could move up to the 870-880 range. However, if it falls below 800, the uptrend could become vulnerable. (What's moving Sensex and Nifty Track latest market news , stock tips , Budget 2025 , Share Market on Budget 2025 and expert advice , on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news alerts on financial markets, investment strategies and stocks alerts, subscribe to our Telegram feeds .) Subscribe to ET Prime and read the Economic Times ePaper Online.and Sensex Today . Top Trending Stocks: SBI Share Price , Axis Bank Share Price , HDFC Bank Share Price , Infosys Share Price , Wipro Share Price , NTPC Share Price (You can now subscribe to our ETMarkets WhatsApp channel ) (What's moving Sensex and Nifty Track latest market news , stock tips , Budget 2025 , Share Market on Budget 2025 and expert advice , on ETMarkets . Also, ETMarkets.com is now on Telegram. For fastest news...

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