CarTrade Tech shares recover from day's low, but analysts stay cautious
CarTrade Tech reported a 30.85 per cent year-on-year (YoY) jump in consolidated net profit at Rs 55.86 crore, compared with Rs 42.69 crore in the corresponding quarter last year.
- Feb 5, 2026,
- Updated Feb 5, 2026 2:53 PM IST
Shares of CarTrade Tech Ltd recovered part of their sharp losses in Thursday's trade after hitting a day's low of Rs 2,022.60. The stock had slumped as much as 15.20 per cent during the session but later pared losses and was trading 2.31 per cent lower at Rs 2,330.25.
The correction came despite a decent earnings performance in the December 2025 quarter (Q3 FY26). CarTrade Tech reported a 30.85 per cent year-on-year (YoY) jump in consolidated net profit at Rs 55.86 crore, compared with Rs 42.69 crore in the corresponding quarter last year. Revenue for the period rose 18.99 per cent to Rs 209.67 crore from Rs 176.21 crore a year ago.
However, analysts remained largely cautious on the counter, with a few recommending an exit or a 'sell-on-rally' strategy, citing valuation concerns and weak technical indicators.
"CarTrade is a fully priced-in stock. One should consider using the "sell-on-rally' strategy," said Kranthi Bathini, Equity Strategist at WealthMills Securities.
Ruchit Jain, Head – Technical Research at Motilal Oswal Financial Services Ltd (MOFSL), also advised exiting the stock at current levels.
"The outlook seems bleak with the recent breakdown from the critical support zone. The next potential support is placed in the range of Rs 1,950-1,850 zone, anticipated to stabilise the strong fall. On the flip side, a series of resistances is placed from Rs 2,300 (200 DSMA) to Rs 2,500 and a sustained move could only reinstate strength in the counter," said Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One.
According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "CarTrade's stock is bearish on daily charts with strong resistance at Rs 2,591. A daily close below the support of Rs 2,244 could lead to a downward target of Rs 1,980 in the near term."
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support for the stock is seen at Rs 2,000, while resistance is placed at Rs 2,400. He added that a decisive move above Rs 2,400 could push the stock towards Rs 2,500, with the expected short-term trading range pegged between Rs 2,000 and Rs 2,500.
Shares of CarTrade Tech Ltd recovered part of their sharp losses in Thursday's trade after hitting a day's low of Rs 2,022.60. The stock had slumped as much as 15.20 per cent during the session but later pared losses and was trading 2.31 per cent lower at Rs 2,330.25.
The correction came despite a decent earnings performance in the December 2025 quarter (Q3 FY26). CarTrade Tech reported a 30.85 per cent year-on-year (YoY) jump in consolidated net profit at Rs 55.86 crore, compared with Rs 42.69 crore in the corresponding quarter last year. Revenue for the period rose 18.99 per cent to Rs 209.67 crore from Rs 176.21 crore a year ago.
However, analysts remained largely cautious on the counter, with a few recommending an exit or a 'sell-on-rally' strategy, citing valuation concerns and weak technical indicators.
"CarTrade is a fully priced-in stock. One should consider using the "sell-on-rally' strategy," said Kranthi Bathini, Equity Strategist at WealthMills Securities.
Ruchit Jain, Head – Technical Research at Motilal Oswal Financial Services Ltd (MOFSL), also advised exiting the stock at current levels.
"The outlook seems bleak with the recent breakdown from the critical support zone. The next potential support is placed in the range of Rs 1,950-1,850 zone, anticipated to stabilise the strong fall. On the flip side, a series of resistances is placed from Rs 2,300 (200 DSMA) to Rs 2,500 and a sustained move could only reinstate strength in the counter," said Osho Krishan, Senior Analyst – Technical & Derivative Research at Angel One.
According to AR Ramachandran, part-time Sebi-registered research analyst at Tips2trades, "CarTrade's stock is bearish on daily charts with strong resistance at Rs 2,591. A daily close below the support of Rs 2,244 could lead to a downward target of Rs 1,980 in the near term."
Jigar S Patel, Senior Manager – Technical Research at Anand Rathi, said support for the stock is seen at Rs 2,000, while resistance is placed at Rs 2,400. He added that a decisive move above Rs 2,400 could push the stock towards Rs 2,500, with the expected short-term trading range pegged between Rs 2,000 and Rs 2,500.