IRCTC Ascending triangle in the making.

IRCTC is taking support at rising trend line multiple times.

Ascending triangle is clearly visible. This pattern gives smooth move on upside.
Similarly Descending triangle gives smooth move in downside.

Currently IRCTC is moving in narrow range ( marked by dotted line ) either side break.
If it breaks on downside that will mark a lower high and new Lower low will be there, this will make stock bearish .
at each arrow marked low will be the targets.

If it breaks on high side it will touch the upper resistance marked, eventually we can expect a strong move on upside.

My take is as the stock is in continuous uptrend on longer charts. I can take the smaller risk now, or can enter with small quantity ( 1/3 or 1/2 ) depending of the risk appetite.
Stop loss is not even 15 %
Therefore for long term view or positional traders can go long keeping in mind the risk involved
When it crosses range on upside it will move more 60 70 rs away from stop loss, there by increasing the risk.

Plan well and trade accordingly.

Tip: Whenever you see any pattern forming always convert your drawings from candlesticks to line chart. This will give you an edge in the trade.

Not a recommendation, do your analysis & then enter.
Comment: Now around 200 rs move done. Book some profits. Take a call after few days. Sort of one-way move.

Wont be available for few weeks. Will be back soon. Just logged in for positing update. 🤟🏾
Comment: Offload full qty here

1740 to 3030

74% move captured 💪🏾


Good call.
100 coins
it more likely will break the treandline and and bhalooo will take over
+6 Reply
@arrjey bhaloo😅
+4 Reply
@arrjey, where is bhaloo?
arrjey varadtambolkar
@varadtambolkar, nice, teach me master :P
Probability of falling more once it breaks the trendline on the downside
+4 Reply
Though its an uptrend, volume is quite low. I feel that it will drop and create new low.
+3 Reply
varadtambolkar MehulShah1969
@MehulShah1969, It touched 2000 with high volumes but then came down with lower volumes. this shows up move has more power.
Nice tip. A line chart removes the noise.
+3 Reply
@Minhaj_AK, 😃