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...
DISCLAIMER :
As a trader you should consider your own risk:reward ratio and do proper lot sizing according to your margin and leverage level.
Not every idea is a valid trade.
This analysis is a trading idea, not a trading signal for you.
My own trend direction estimation, entry point, stop loss and take profit levels are on the chart.
Good Lucks.
IRCTC (CMP 926)...
After a stellar Listing,Stock has been trading in Range from last 3 months...
Stock has formed good base around 850 ...
Stock can test 950 breaking that can see 1000/1050+ in coming Months..
Support 850
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.
