What next in IRCTC ?

INDIAN RAIL TOUR CORP LTDNSE

Description

⋅ Oct 20, 2021 10:36 AM

NSE:IRCTC

Today it took support from 21DMA which is placed at 4366.51 level. Which is a good sign at this moment. Breakdown of it will lead it to 4000 level.
Further breakdown of 4000 level will lead it to 3580 level. 50DMA is placed near this level.

If we apply FIB retracement on daily time frame then we can see that immediate support is at 4000-4018 level range.

I can see profit booking to continue till 4000 -4050 level. From this level if it shows the reversal then it will be buy trade.

Note: This is my personal opinion. this is not any trade recommendation. I may be wrong or right.
Please do your own study before taking trade.

Comments

Trading_hawk

⋅ Oct 22, 2021 10:19 AM

Still holding above 50% of FIB retracement.

RushikeshPatil_7

⋅ Oct 21, 2021 11:20 AM

The spliting has saved irctc ?

Trading_hawk

⋅ Oct 21, 2021 11:21 AM

@rushi7277patil,
Don't know brother.
I am an intraday trader. Levels are my friends and SL is my god.

KuberPriya

⋅ Oct 21, 2021 5:51 AM

4000 & 2700 🔻

Trading_hawk

⋅ Oct 21, 2021 5:55 AM

Hi @KuberPriya,
You mean to say it will go down till 2700 ?

KuberPriya

⋅ Oct 21, 2021 8:59 AM

Yes, If breaks 4000... @Trading_hawk

Trading_hawk

⋅ Oct 21, 2021 9:59 AM

@KuberPriya, I see.
thank you for your insight.

bisanireddy

⋅ Oct 20, 2021 5:08 PM

SO you are suggesting yo buy at this 50% level?

Trading_hawk

⋅ Oct 20, 2021 5:11 PM

@bisanireddy
no.
my personal view is to either buy once it sustain the support of 4000 or gives sustainable breakout of 5000.

this is my personal view. not any recommendation.

Trading_hawk

⋅ Oct 20, 2021 5:11 PM

@bisanireddy
Sustainable breakout of 5000 or 4926 level