I am a novice in markets, Feel free to correct me.
Tools: Trend Line, OBV WITH 20EMA & Prices with triangle and 100EMA
Observation: IRCTC had a pricegap on 26th june as results were postponed plus nifty`s volatility. Therefore the support line which it was holding on from 7th may, finally broke on 26th june. Then it was range bound between 1340-1440, so it has pressure to break either of the limits before july end.
OBV hasnt shown anydivergence yet and trending along with 20EMA, so not indication there for any side.
Still it is important that it is in subtle upward trend(not sharp) since last several months, both in prices and volume & no major change in fundamentals has been seen since then.
Now as you can see there was a crossover of uptrend and downtrend on 25th june which it didint sustained and moved with major downtrend continued from Rs.1950 & fell, again there is a crossover of major dowtrend from 1950 to uptrend from 1109 at july end.
which raises an opportunity as stock is trading above 100 ema and obv is in uptrend since march, both sugests bullishness.
Conclusion: If it breaks 1340 it will be pulled back toward 100 ema or if it breaks 1440 upside can be seen upto 1550.
Healthy criticism is most welcome.
Tools: Trend Line, OBV WITH 20EMA & Prices with triangle and 100EMA
Observation: IRCTC had a pricegap on 26th june as results were postponed plus nifty`s volatility. Therefore the support line which it was holding on from 7th may, finally broke on 26th june. Then it was range bound between 1340-1440, so it has pressure to break either of the limits before july end.
OBV hasnt shown anydivergence yet and trending along with 20EMA, so not indication there for any side.
Still it is important that it is in subtle upward trend(not sharp) since last several months, both in prices and volume & no major change in fundamentals has been seen since then.
Now as you can see there was a crossover of uptrend and downtrend on 25th june which it didint sustained and moved with major downtrend continued from Rs.1950 & fell, again there is a crossover of major dowtrend from 1950 to uptrend from 1109 at july end.
which raises an opportunity as stock is trading above 100 ema and obv is in uptrend since march, both sugests bullishness.
Conclusion: If it breaks 1340 it will be pulled back toward 100 ema or if it breaks 1440 upside can be seen upto 1550.
Healthy criticism is most welcome.