CarTrade Tech tumbles 12% on profit‑booking wave

CarTrade Tech Ltd (CARTRADE) fell sharply by 12% on 28 Oct 2026, closing near ₹2,320, after investors booked profits following its strong multi‑week rally. 📉 Market Snapshot CMP: ₹2,320 (–12.0%) Previous Close: ₹2,636 Sector: Auto‑Tech & Digital Marketplace Volume: 3.2× average daily turnover → heavy selling pressure Market Cap: ₹10,800 Cr 🧾 Key Drivers Behind the Drop Profit‑Booking: After a ~35% rise in October, traders locked gains ahead of month‑end. Valuation Concerns: Analysts flagged stretched P/E multiples post AI‑valuation platform launch. Mixed Sector Sentiment: Auto‑tech peers like Cars24 and Droom also saw corrections. Technical Resistance: Stock failed to sustain above ₹2,600 zone → triggered short‑term sell signals. 📊 Recent Fundamentals Q4 FY26 Revenue: ₹198.3 Cr (+13.4% YoY) Net Profit: ₹42.6 Cr (+27.8% YoY) EBITDA Margin: 28.1% (up 140 bps YoY) EPS: ₹8.15 (+25.6% YoY) AI Valuation Platform: Fully integrated across CarWale, BikeWale & CarTrade Exchange. ⚠️ Technical Outlook Indicator Signal Comment RSI 41 (Neutral) Room for further correction if below 40 MACD Bearish cross Short‑term downtrend confirmed Support Zone ₹2,280 – ₹2,300 Key level to watch Resistance ₹2,600 – ₹2,650 Profit‑booking trigger area 💡 Investor Takeaways Short‑Term: Expect volatility between ₹2,280–₹2,450. Medium‑Term: Fundamentals remain strong; AI valuation platform and EV analytics offer growth potential. Long‑Term: Correction may offer re‑entry opportunity near support zones.