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IRCTC - Long/Short OpportunityLong/Short Opportunity - IRCTC has strong support on Rs. 781.55 & stock has sustained to this level till now. Also, there is resistance at Rs. 793.83. The MA is showing a sideways zone. There are high chances that this stock will cross-resistance and give bullish movement because the CCI is indicating a bullish move. And if we observe it very closely there is a small cup & handle pattern that has formed. But if this stock first candle closes below support level it might give you the bearish move. As per the CPR, we are expecting a big move in this stock. But we have to be curious because the international market is bearish and very volatile. Let the market settle and only then we can enter.
NSE:IRCTC
by sayenpure
Simple Trade Setup | IRCTC | 13-08-2021NSE:IRCTC Since this stock's movement from last one week has been driven by one news about stock split so it is a bit tough now as it is already on the higher levels. Today's move came after the confirm news about 1:5 split. And then sudden selling/profit booking was seen. ----------------------------------------------- Anyway, here I tried my best to provide trade setup based on technical analysis. It has made rounding bottom breakout and breakout level was at 2660-2661. Tomorrow if it opens flat or minor gap down and comes till 2660-2661 and gets support from it then it will be perfect entry for buy trade and easy quick target will be 2700-2710. But if it fails and breakdown then it will be short trade entry till that critical zone. And if it opens above 2700 level and keep on trading above it then it will be entry for buy trade. Highet open interest in call option is at 2700 level. And then on 2800 level call option. So breakout or support of 2700 will give easy 40 points upmove in IRCTC. Further if it breaks down below the critical level the we can see panic profit booking in it. But if you are a positional trader for long term then you no need to worry. As a fundamental this company is good to hold till you die. Hope I made it simple to explain. Do let me know your doubt or suggestion. All the best.
NSE:IRCTC
by Trading_hawk
Bullish Pennant Pattern | IRCTC | Simple Trade Setup | NEXT WEEKNSE:IRCTC After big gap-up in this week, it has been trading and making higher lows and lower highs. And it is forming a Bullish Pennant Pattern. Fundamental That Bullish move (big gap up )is mainly by the news of Stock Splits. On 12th Aug, board meeting is there in consideration for Stock Split. Simple Trade Setup Trade levels and Targets are mentioned on the chart. Hope it is easy to understand. Do comment your doubt or suggestion.
NSE:IRCTCLong
by Trading_hawk
13
IRCTC TRADE SETUP 30-07-2021 || looks bullish nowNSE:IRCTC Today it break the trendline, also gave breakout of short term rounding bottom pattern and also tested the long time support zone and closed above it. This rounding bottom was also made at bottom level of Fibonacci. And that level also gave good support. Once can enter at CMP for positional trade. For intraday it better to go long above 2325. My personal view is very bullish on IRCTC now. Hope my ideas are helping you to understand levels, price action and taking the trade from the right level. Do comment if you have any suggestion or doubts, I will try to response as soon as possible.
NSE:IRCTCLong
by Trading_hawk