IRCTC: Cup and handle pattern BREAKOUT
NSE:IRCTC INDIAN RAIL TOUR CORP LTD
Monopoly in the sector.
Strong Fundamentals with good ROE.
Cup & Handle formation is complete.
The price is above 50 and 200 MA.
Handle breakout is seen, however, there is an immediate STRONG SUPPLY ZONE (acting as resistance) just above the Handle region.
This STRONG SUPPLY zone has been broken today with a gap-up opening indicating bullish momentum.
Stoploss has been marked in Orange.
Two Target Price/Take Profit level has been marked in Red lines.