IRCTC Next Move projections with Elliott waves and Fibonacci
IRCTC witnessed massive drop hitting 2 circuits.
The drop took it to 0.236 fibonacci retracement levels.
Assuming todays drop as Wave A next consolidation as wave B and see some pullback it could be till 5800.
Wave C should drop towards 0.382 fibonacci levels.
This ABC correction move should suck and digest all the rally it made so far then next Upmove as wave 5 should be slow up.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
The drop took it to 0.236 fibonacci retracement levels.
Assuming todays drop as Wave A next consolidation as wave B and see some pullback it could be till 5800.
Wave C should drop towards 0.382 fibonacci levels.
This ABC correction move should suck and digest all the rally it made so far then next Upmove as wave 5 should be slow up.
DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of your financial advisors before investing/trading.
Not recommended to take FnO positions based on this analysis
I may or may not trade this analysis. Details in description.
