Indian Railway Catering & Tourism Corporation - IRCTC - Breakout
Date: 1-Apr-2024
Rating: Buy - Positional Trade
LTP: Rs. 970.15
Targets: (1) Rs. 1,049 --> (2) Rs. 1,118 --> (3) Rs. 1,279
SL: Rs. 930
Technical View:
•
IRCTC is in its primary uptrend since Oct-2023 and was recently going through it's secondary downtrend.
• After touching the high of 1,049 on 20-Jan-2024, it has retraced 18% to 862.75 level.
•IRCTC has broke out from its secondary down trend on 1-Apr-2024 with higher than average volume.
• RSI has crossed over 50 on 21-Mar-2024. MACD has crossed over 0 on 1-Apr-2024.
• On 21-Mar-2024 it has closed above 20 DMA.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Rating: Buy - Positional Trade
LTP: Rs. 970.15
Targets: (1) Rs. 1,049 --> (2) Rs. 1,118 --> (3) Rs. 1,279
SL: Rs. 930
Technical View:
•
IRCTC is in its primary uptrend since Oct-2023 and was recently going through it's secondary downtrend.• After touching the high of 1,049 on 20-Jan-2024, it has retraced 18% to 862.75 level.
•
IRCTC has broke out from its secondary down trend on 1-Apr-2024 with higher than average volume.• RSI has crossed over 50 on 21-Mar-2024. MACD has crossed over 0 on 1-Apr-2024.
• On 21-Mar-2024 it has closed above 20 DMA.
• Looking strong to start a new swing from here.
Disclaimer: I am not a SEBI registered analyst/consultant and not recommending anyone to take any BUY or SELL position in stock market. Investing in stock market is risky and one should do a self analysis and validation before investing in stock market.
Note
12-Apr-2024---------------
LTP: Rs. 1,057.65
1st target of Rs. 1,049 reached. 9% up from suggested level.
NEXT TARGET: Rs. 1,118
Trade closed: target reached
7-May-2024--------------
Broke down the trend line and closed below 20 DMA & 21 DEMA. Both RSI and MACD are giving bearing view. Closing the call to book profit.
LTP: 993.50
P&L: +2%
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