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Indian Railway Catering & Tourism Corp. Ltd.Indian Railway Catering & Tourism Corp. Ltd.Indian Railway Catering & Tourism Corp. Ltd.

Indian Railway Catering & Tourism Corp. Ltd.

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IRCTC trade ideas

IRCTC Ltd. An opportunity to onboard this railway stock ?A simple yet effective trading setup can be seen in IRCTC Ltd. As per the technicals, we are witnessing a simple but one of the most effective charting pattern - The Symmetrical Triangle. The stock spent a decent amount of time in it's consolidation phase of the pattern. The stock not only broke it's resistance level, but also managed to break the 50 EMA which was supported by strong volume on a daily basis in today's trading session. Thus, this might just be the correct time to add this stock under the watchlist as a swing trade opportunity can be seen here. Although, it's worth mentioning to check the strength of the bulls by allowing some time for a retest of the 50 EMA and the resistance level. An ideal entry should be between 618-625 levels. On the upside, the stock can go upto the levels of 673-686. An ideal stop loss should be around 590-592 levels. As per the Fundamentals, the stock is priced just at it's perfect valuation (P/E of 76). Also, the attractive valuation is supported by steady and increasing EPS., hence making it very attractive to build up the portfolio at current price levels. The company is expected to provide decent figures for the quarter. Thus, long term investors can also consider to add this stock in their portfolio. The above analysis is just for educational purpose. Investors/Traders are advised to do their own reasearch before making any decisions.
NSE:IRCTCLong
by Ratnesh2107
2
IRCTC - INVERSE HEAD AND SHOULDERIRCTC formed a inverse Head & Shoulder pattern in D1 time frame and gave a breakout with good volumes. After breakout it's in consolidation phase and thus formed a flag and pennant pattern in H1 timeframe. High probability setup will be breakout of flag and pennant in bullish direction. Try to Avoid bearish direction. Disclaimer :- I'm not a SEBI registered analyst. This all are my personal views and not a recommendation. It's only for educational purpose. Do your own analysis before investing.
NSE:IRCTCLong
by abhijit2608
IRCTC - Bullish view (Inverted H&S,BB, Trend reversal) Breakout Candle with below features :- Key factor :- Dow theory reversal with HH & HL on hourly chart, Bullish divergence on oscillators (RSI,MACD, Stochastic) 1) Breaking out Angular trend line 2) Breaking out Head and shoulder Neckline 3) Challenging Upper Bollinger band 4) DI+ crossing DI- with ADX above 20 5) High Volume 6) RSI - 66.02 7) ema crossover 5>13>26 and candle crossing up 50 ema 8) Eaten up 3 bearish candles with major resistance B1,B2,B3 Entry :- Around Rs. 625-630 in Bullish candle after retesting Target 1 :- Rs. 692 -712 Target 2 :- Rs. 766 (May be another trade on another resistance around Rs.700) If we exclude 3 outlier- data points on top of the chart it has retraced 61% and we can expect it to rise up to 38% of top in single run which is around Rs. 712 Disclaimer: This is for information and educational purposes only, not any recommendations to buy or sell. I am not SEBI registered, please consult your financial advisor before taking any action.
NSE:IRCTCLong
by Vaibhav_Gujar
2
IRCTC: Case of ENDING DIAGONALTheory: DIAGONAL: Diagonal are the motive waves like an impulse wave, but diagonals are different from impulse wave in that they do follow the first two Sutras (rules of impulse wave) for wave analysis, but it does not follow the third one i.e. Wave 4 should not intervene the territory of the wave 1. In a diagonal wave 4 always enters into the price territory of the wave 1. Properties Of Diagonals: Diagonals can be contracting or expanding type being expanding diagonal a rare one. In contracting type, wave 3 is shorter than wave 1, wave 5 is shorter than wave 3, and wave 4 is shorter than wave 2. In expanding type, wave 3 is longer than wave 1, wave 5 is longer than wave 3, and wave 4 is longer than wave 2. Types Of Diagonals: LEADING DIAGONAL ENDING DIAGONAL LEADING DIAGONAL: In a leading diagonal , waves 1,3, and 5 are all impulsive in nature or all in corrective form of zigzags. Wave 2 and wave 4 are always present in a zigzag form. A leading diagonal suggests the starting of a new wave & that is why it can develop wave 1 of a impulse wave and a first wave of a zigzag pattern. ENDING DIAGONAL : This is the most common diagonal that can be found out at the ending of a main trend or main correction. It consists of all the waves 1-2-3-4-5 in a single or multiple zigzags. They can be found placed at 5th wave of an impulse wave or can been seen as a wave ‘C’ of a corrective waves zigzags or flat. After the termination of the diagonal , a swift & a sharp reversal takes place which bring the prices back to the level from where the diagonal has began. (generally it retrace back to the wave-2 of the diagonal sturcuture) TRADING STRATEGY: Buy IRCTC with SL of 557 and look for the upside targets of 700-710
NSE:IRCTCLong
by TradingSutra
18
IRCTS GETTING READY FOR AN UPMOVE AFTER 55% CORRECTIONIRCTC made a very good Falling wedge pattern and gave a breakout of that 2 weeks back. It has been consolidating in a range for 2 months now and yesterday gave a breakout of that range. These multiple bullish signs show that the stock is getting ready for an upmove now. Buy above 640 level for 1st target 665 (which is also it's 100 EMA. Once this level is breached it can move to next targets 708 and 765 positionally. Disclaimer: This idea is for educational purpose and kindly buy as per your risk management. I always encourage partial booking 1-2% profits and use a strict trailing stop loss. Idea is positional and only carry position on day closing basis. Learn & earn, Dr . Tanya Kumar
NSE:IRCTCLong
by tanya151181
16