All analysis has been given on charts itself.
The stock has been bouncing from the same levels several times, hence the stock may bounce from there again. Hence Trades must be taken only below suggested levels of 1315 i.e Confirmation Level.
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After long term correction, stock has given a breakout of a long term downtrend line & restested as well. On observation we can find an inverse Head and Shoulder pattern. The prices has given a breakout above the neckline of the inverted H&S with strong volume on weekly chart.
On the perspective of wave analysis, we can clearly count the up move from the bottoms...
The Fibonacci ratios are widely used among traders to help identify potential areas of reversal in the movement of price action.
The Trend-based Fibonacci Extension tool utilizes three points on a previously identified trend in order to draw the Fib ratios on the chart.
In the chart above, price was rejected twice forming a double top which is a fairly strong...
IRCTC is taking support at rising trend line multiple times.
Ascending triangle is clearly visible. This pattern gives smooth move on upside.
Similarly Descending triangle gives smooth move in downside.
Currently IRCTC is moving in narrow range ( marked by dotted line ) either side break.
If it breaks on downside that will mark a lower high and new Lower low...
For Buying
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Buy Above 374.. But not advisable for Buy..
Cannot to see any buying pressure.
Even Symmetric Triangle breakout happen in upper side, there is lot of resistance.. price will difficult to move upside.
For Sell
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Sell Below when the trend line breakout..
if the price tested the trend line again & if breaks this will...
Hcl tech trade on some crucial levels. according to day by day chart, it is making a double top and at this level make and break if the neckline break we will see lower levels in hcl tech when it is not broken so we see 10% - 15% upside .
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