IRCTC has breached the trendline at 866 and 50 day EMA at 826. Critical is the Fibonacci level at 823, the breaking of which the stock should find a resistance at 803. Below which another support is at 777. Further downward movement and 723 should act as a strong support zone, which is also 100 day EMA.
On the positive side, target of 1056 if it breaks the resistance of 927 and 977.
Currently, I am negative on this given the upsurge in a new variant of Covid 19 and the effect this might have on the travel and tourism industry. The above levels given, should guide how one should plan his/her investment in this stock.
On the positive side, target of 1056 if it breaks the resistance of 927 and 977.
Currently, I am negative on this given the upsurge in a new variant of Covid 19 and the effect this might have on the travel and tourism industry. The above levels given, should guide how one should plan his/her investment in this stock.