bhanu2018

IRCTC (Call 4020 Short cmp 85)

Short
NSE:IRCTC   INDIAN RAIL TOUR CORP LTD
Irctc reached at very important level.Seems like stock has been exhausted after big bullish move. Candlesticks pattern at the top confirms reversal.Its not recommended to trade futures because i am expecting the stock not so bullish and its way away from 20 Moving average.So shorting out of the money call can be a good trade.
Comment: this is just to update you as i mentioned 2 days back IRCTC pattern is in reversal mode,today when market opened stock's price was open=High which was another confirmation that IRCTC's bull rally is almost end.
Comment: If someone has short position in irctc then close their position