In today's session, IRCTC has given a breakout of rounding bottom pattern. After this breakout, This stock gives quickly our projected initial target is 1750+ which is the height of rounding bottom pattern.
Traded position:
Buy Entry IRCTC at 1700-1710
Stop-loss 1680
Initial Target- 1750(1:2.5 risk reward)
Anchored volume weighted average price or simply AVWAP is a previous meaningful benchmark price on a chart chosen by traders that quantifies the average price a market has traded at through a time period, based on both volume and price. This metric is important because it provides traders with a visual into the nature of the trend and the average technical value...
1. BIG GAPUP, FOLLOWED BY BIG GREEN CANDLE .
2. PRICE SHOWED THE REAL FACE AFTER LOSING MOMENTUM
3. NOW AFTER BREAKING SUPPORT OPENING PRICE , THE PRICE HAS TO FILL THE UNNECESSARY GAP - UP
4. ON CONFIRMTION A SHORT WAS GIVEN
5. FOR THE TARGET FOR PREVIOUS DAY LOW
![IRCTC: [Educational] IRCTC Rounding Bottom Pattern Intraday Analysis](https://s3.tradingview.com/m/MrsGNGLB_mid.png "[Educational] IRCTC Rounding Bottom Pattern Intraday Analysis")
