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sayenpure
Feb 22, 2022 10:28 AM

IRCTC - Long/Short Opportunity 

INDIAN RAIL TOUR CORP LTDNSE

Description

Long/Short Opportunity -
IRCTC has strong support on Rs. 781.55 & stock has sustained to this level till now. Also, there is resistance at Rs. 793.83. The MA is showing a sideways zone. There are high chances that this stock will cross-resistance and give bullish movement because the CCI is indicating a bullish move. And if we observe it very closely there is a small cup & handle pattern that has formed.
But if this stock first candle closes below support level it might give you the bearish move. As per the CPR, we are expecting a big move in this stock.
But we have to be curious because the international market is bearish and very volatile. Let the market settle and only then we can enter.
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