IRCTC: Expect to go short before it goes long
Before going long on IRCTC, I expect the price to go down first and halt at the major trendline support. Please see the zoomed view of daily chart left side one for more detailed explanation.
On the right side you see a flag and pole pattern developing that suggests the price will go up eventually.
This is more of educational purpose and it's important to note that this analysis is based on technical indicators and further research and analysis are recommended before anyone making any investment decisions. You alone will be solely responsible for taking your own decisions.
IRCTC
IRCTC - Long term betIRCTC - looks like a dark horse and very strong script for long term..
after all the initial euphoria the stock rallied a lot and lot of retails got stuck at higher level , after correction it took support at 61.8% retracement of its IPO to ATH price.
Retailers have mostly got frustrated with this script and have exited in loss and stock seems to have started its next leg of upmove....
Short on IRCTC trade-Time frame Mar2023CMP 640, Target 500, Time frame march 2023. Expecting the IRCTC to trade at the levels of 500 by march 2023. Based on the continuous downtrend for the last 3 consecutive months , and expecting to touch the lower end of the Bollinger band. Expecting the target to hit within next 1month . One can trade sell futures at CMP or buy put options in HAL with the target given . The view is mine . It’s not a buy : sell recommendation.
IRCTC ANALYSIS!!! Short Term moves can be seen in IRCTC in the upcoming days.Huge liquidity taken, wait for the right time to entry in it.
It's a deep analysis on how the stock should move!!
Warning!!!
Do your own analysis and then enter in it. Don't follow blindly. Get help from ur financial advisor.
IRCTC- Ichimoku Bullish Breakout Stock Name - Indian Railway Catering & Tourism Corporation Ltd
Ichimoku Cloud Setup :
1). Today's close is above the Conversion Line
2). Future Kumo is Turning Bullish
3). Chikou span is slanting upwards
All these parameters are showing bullishness at Current Market Price
and more bullishness AFTER crossing 762
#This is not Buy and Sell recommendation to any one. This is for education purpose and a helping hand to learn trading in Market.
# Cloud Trading
# Ichimoku Cloud
# Ichimoku Followers
I hope you all like my analysis.
Please do share your thoughts into comment section.
Please give a like, it motivates me to do analysis.