IRCTC has been consolidating in a pennant right under the resistance for about 2 months now. Just broke out of it today, im long IRCTC until it hits 2000. Not selling before that. Think about it, the Railways are yet to operate in full capacity after lockdown is phased out slowly. Definitely i would expect this piece of art to boost up once the economy is...
I have done this research based on the Monthly, Weekly and Daily charts. I never like to take my trade on less than a daily time frame and I advise those who like to hold their trade for more than 1 to 3 days. Then please do not take your trade basis on the lower time frame. If you like my idea then do like it and if you have your idea or research you want to...
IRCTC Long Term AND Short Term Resistance
IRCTC is currently trading in a bearish descending triangle. The price should break down to a measured move to 0.5 fib levels which is at 820ish. Daily RSI over brought. Also it broke below the 200 period MA on hourly chart.
Formed a bullish pennant. Buy above 790. Targets are 806, 850 and 887 SL 700.