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TraderBie

IRCTC: Expect to go short before it goes long

Long
INDIAN RAIL TOUR CORP LTD (NSE:IRCTC)  
TraderBie Updated   
NSE:IRCTC   INDIAN RAIL TOUR CORP LTD
Trend Analysis Chart Patterns Technical Indicators IRCTC irctctechnicalanalysis
5
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trendanalysis chartpattern indicator irctc irctctechnicalanalysis
snapshot

Before going long on IRCTC, I expect the price to go down first and halt at the major trendline support. Please see the zoomed view of daily chart left side one for more detailed explanation.
On the right side you see a flag and pole pattern developing that suggests the price will go up eventually.

This is more of educational purpose and it's important to note that this analysis is based on technical indicators and further research and analysis are recommended before anyone making any investment decisions. You alone will be solely responsible for taking your own decisions.
Comment:
As we could see the price has started falling down quite quickly. It's back into the trading range zone from 636 to 607. The move up to 674.00 was just a measured move of 566 back in the 3rd of April 2023.
Comment:
Sorry from 653 to 607 trading range
Comment:
Price is going to come and test 604.00
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