IRCTC, Avenue Supermarts, YES Bank: Trading strategies for buzzing stocks

IRCTC has risen over 50 per cent in just eight sessions. Bajaj Finance, YES Bank and Godrej Properties have also rallied in trade since the last few sessions. Here are the trading strategies

Indian Railway Catering and Tourism Corporation (IRCTC):  The counter has jumped over 50 per cent in just eight sessions. Although the continuous gap-up sessions indicate strong momentum, a jump of over 50 per cent normally witnesses profit booking. This stock now needs to consolidate after a sharp rally in order enter the next leg of an upside. Rather than buying this stock now that trades in overbought condition as per Relative Strength Index (RSI), one can wait for a healthy correction. CLICK HERE FOR THE CHART

Godrej Properties Ltd (GODREJPROP): The stock faces resistance