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IRCTC

IRCTC CHART LOOKS GOOD !!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 will be there, this will make stock bearish . at each arrow marked low will be the targets. If it breaks on high side it will touch the upper resistance marked, eventually we can expect a strong move on upside. My take is as the stock is in continuous uptrend on longer charts. I can take the smaller risk now, or can enter with small quantity ( 1/3 or 1/2 ) depending of the risk appetite. Stop loss is not even 15 % Therefore for long term view or positional traders can go long keeping in mind the risk involved When it crosses range on upside it will move more 60 70 rs away from stop loss, there by increasing the risk. Plan well and trade accordingly. Tip: Whenever you see any pattern forming always convert your drawings from candlesticks to line chart. This will give you an edge in the trade. Not a recommendation, do your analysis & then enter.
NSE:IRCTCLong
by mj1912
1
Swing Trade Idea #243 : Long on IRCTCThis is a public swing trade idea and is only for Learning and observational purpose. Please understand your risk and take full responsibility of your actions. We would comment on any further updates on our entry, targets and stop-loss on this idea, so make sure to follow it if you want to get further updates. Our objective to help anyone who wants to learn technical analysis using charts. You can post your queries in comment section here and we will try to answer asap.
NSE:IRCTCLong
by onerighttrade
IRCTCNote: 1. Views are personal and for educational purposes only. Recheck and take the trade as per your RR. 2. Always remember SL is your lifeline, not the big target... 3.Follow us for more patterns and like, share so that we feel it is helpful to many and share more patterns... 3. Views given here is not a tip rather it is for educational purpose... Aftermarket opens, the condition might change so learn to handle different conditions... 4. To learn more about patterns, Psychology behind the trade, and price action trading... contact us... Thanks... Keep an eye ladies and gentlemen. Cheers and Happy Trading
NSE:IRCTCLong
by SENSITRADE_T