Irctc is in mood to reach 1100 level soon.
Fundamental is very good, comes from Railway PSU.
TOO MUCH CONSOLIDATION HAD HAPPENED , NOW READY TO GO TO MOON I.e 1100 level
IRCTC chart suggests breakout on Monthly, weekly and Daily charts.
Double bottom formed on monthly basis
critical level 780.
Likely to Hit targets 840 - 920 - 1020 -1300
As NASDAQ is making new ATHs, the Indian stock market is also reacting to catch up.
within the Indian stocks, the giant is IRCTC with a monopoly over a multi-million dollar annual turnover.
I am bullish on IRCTC with the target marked in the picture. Price action is bullish on all time frames once the resistance at 850 -900 INR is broken this train is going to fly.
*IRCTC*
P&H Formation on Monthly Basis.
*W* Formation on Monthly Basis.
Strong Price BreakOut & Sustained.
Vol. BuiltUp gaining Traction post Heavy Consolidation.
RSI: 1H=D>W>M. All in Bullish Zone.
Sectoral Outlook highly Positive.
*Trail SL with Upside*
*Book Profit as per Risk Appetite*
*_Do Your Own Research as well. This is an Opinion "
Happy Investing 😇
Increased optimism and market sentiment:
Positive outlook from the company management: IRCTC's recent AGM saw positive statements from the management regarding the company's strong financial outlook and post-pandemic recovery. This has instilled optimism among investors about the company's future growth prospects.
Overall positive market sentiment: The broader...
IRCTC nearing one year high cmp 745.45
Previously in Sep 2023, reversed 15% down from the recent high (resistance zone)
reached monthly resistance zone, technically reversal seen near the resistance.
Monthly Resistance 740 - 783
Hopes, dreams euphoria, FOMO all are emotions that drive the journey of an investor/trader.
PSU's as a pack continues to contribute huge wealth creation, those who missed can still look at it is leaving the empirical negativity surrounding this space.
One may continue to feel, that this space has reached top and can potentially drive down faster and quicker and...
IRCTC after a brief downtrend and retouching the critical support area, looking to move further upside, i'm pretty sure this wont look back at the support area anytime soon or for a longer time. Good earnings performance as well.
Pleasure to have you here. This is an investment analysis done for the Tickr, and potential in the Technicals.
In this Daily Chart , the chart has been slightly in uptrend and as soon as it crosses its resistance, we will decide to make a position in the stock,
if you like the idea please like the post :) It will be a motivation to further such...
Finally the IRCTC is in a good upward trend and we will see a good response of news in IRCTC very soon.
1- A long old uptrend line is following and giving good support to this new uptrend.
2- Now the downtrend is over for sure.
3 - For around 2 trading days there will be more consolidation but don't be surprised if the 760+ target is achieved in this month .
