IRCTC
IRCTC touch the resistance point and there is too much selling pressure, that's why the stock is falling drastically. It is expected to take support on daily chart resistance line, because that line was break middle of September, so the line expected to works as a next support level.
In this below picture I have also mentioned which are the weekly and daily trendlines. Also explained why market is falling!
IRCTC trade ideas
🚂 #irctc #nifty50 #nifty heading towards support NSE:IRCTC
irctc share came down from our harmonic resistance now heading towards support level if find support and reversal then go for swing or positional again from those levels.
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IRCTC Next Move projections with Elliott waves and FibonacciIRCTC witnessed massive drop hitting 2 circuits.
The drop took it to 0.236 fibonacci retracement levels.
Assuming todays drop as Wave A next consolidation as wave B and see some pullback it could be till 5800.
Wave C should drop towards 0.382 fibonacci levels.
This ABC correction move should suck and digest all the rally it made so far then next Upmove as wave 5 should be slow up.
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Technical analysis provided on the chart is solely the personal views of my research.
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Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
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IRCTC NEXT MOVEAs we see IRCTC was in good move from last few days
it was becouse of fundamental analys that stock is going to be split
But as i draw it was accending triange on hourly timeframe on 4th oct it wasnt giving brekout from 15th sept to 4th oct finally it brek that 3845 level and keep moving up
today suddenly irctc given big downside move it may be due to profit booking
But IRCTC has taken support @4998 as per my analys this may be fibonacci's 50 level
we can meke entry again in IRCTC @5000 tgt should be 6200 sl should be 4650 for swing trading
Target Achieved! IRCTC 18/10/21.IRCTC came on my daily chart on 18/5/21 when it was trading at 1832. When it broke its All Time High, I posted it on my chart of the week post. I put Fibonacci and came to the targets of 2765 to 5968 . Today it hit the maximum limit as per Fibonacci (5967) so henceforth I will keep a trailing SL and hold the position. This is how one can get maximum profit from a trade. Whoever followed my recommendation can enjoy the profit now or keep a trailing SL and hold the position.
NSE:IRCTC LongNSE:IRCTC
#IRCTC trading near Resistance and BO will have higher chances to give positive momentum.
All the levels mentioned on chart !!
Have a Happy trading.
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