IRCTC - Ready to breakout again!
Updated
IRCTC has given multiple small breakouts recently. Now it is on for a major one!
IRCTC made double bottom pattern after a long consolidation of multiple quarters.
It has now shown good volumes interest in past a few weeks and is ready to give the breakout from its previous high of 758. Once that is done it will be out of lower highs trends and get into higher highs - higher lows pattern.
CMP: 740
Breakout level: 760 (751 will give the breakout but it will have another resistance at 760. So its better to take 760 as the breakout level.
target: 870
SL: 738
Hope you make a lot of wealth. Remember: Skilled knowledge is the most precious wealth!
Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
IRCTC made double bottom pattern after a long consolidation of multiple quarters.
It has now shown good volumes interest in past a few weeks and is ready to give the breakout from its previous high of 758. Once that is done it will be out of lower highs trends and get into higher highs - higher lows pattern.
CMP: 740
Breakout level: 760 (751 will give the breakout but it will have another resistance at 760. So its better to take 760 as the breakout level.
target: 870
SL: 738
Hope you make a lot of wealth. Remember: Skilled knowledge is the most precious wealth!
Disclaimer: I'm not a registered analyst. I'm just sharing my opinion on the platform for others to benefit in learning from my market understanding. Please do your due diligence before making a trade.
Trade active
Breakout done. Now wait to harvest profit!Trade closed: target reached
Target met. CMP 879. High made: 916.740 -> 870. Profit 17.5% in 14 days.
Investment of 1L has turned into 1.175L
The stock is still in great momentum. Good idea will be to set the SL to 870 and ride the bull wave.
SL is important, stock can even retrace till 845 / 800 levels.
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