IRCTC : FAILED BREAKDOWN BUY

Nov 8, 2023

IRCTC

On the Daily chart it is forming a bear flag and a new upleg has been started after failing the breakdown from the support trendline.
- The blue line shows the major downtrend line and now after its breakout, the price again came to test the breakout zone And reversing from there.
-Closed with good volume around highs
-Trading above 200 EMA
- The swing low formed at the blue line is a 0.618 retracement zone on Fibonacci.

Kindly study the chart and make an informed decision, always trade with stop loss to avoid unnecessary drawdowns.

Trading is a game of probability and you have to treat it like a business and all things apart money management is supreme.

Keep learning,
happy trading

Dec 6, 2023

Note

740+ from 684
Moving good keep on hold for further up moves.