IRCTC trade ideas
[Intraday] IRCTC Breakout BetToday is confirmation of yesterday's breakout.
So do not buy unless it breaks Previous Day high.
But definitely buy if it breaks!
Note -
One of the best forms of Price Action is to not try to predict at all. Instead of that, ACT on the price. So, this chart tells at "where" to act in "what direction. Unless it triggers, like, let's say the candle doesn't break the level which says "Buy if it breaks", You should not buy at all.
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I use shorthands for my trades.
"Positional" - means You can carry these positions and I do not see sharp volatility ahead. (I tally upcoming events and many small kinds of stuff to my own tiny capacity.)
"Intraday" -means You must close this position at any cost by the end of the day.
"Theta" , "Bounce" , "3BB" or "Entropy" - My own systems. Please refer to the link to my footer and explore further if You want.
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I won't personally follow any rules. If I "think" (It is never gut feel. It is always some reason.) the trade is wrong, I may take reverse trade. I may carry forward an intraday position. What is meant here - You shouldn't follow me because I may miss updating. You should follow the system I share.
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Like -
Always follow a stop loss.
In the case of Intraday trades, it is mostly the "Day's High".
In the case of Positional trades, it is mostly the previous swings.
I do not use Stop Loss most of the time. But I manage my risk with options as I do most of the trades using derivatives.
I also do my trades live, Please refer to the link to my footer if you want to tail me.
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FY21-22 Swing Trade Idea #74: Long on IRCTC This is a public swing trade idea (other private ideas accessible through website) 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 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.
IRCTC in Bullish ABCD Harmonic PatternIRCTC is forming a bullish ABCD Harmonic pattern. Also, price is currently in 0.618 retracement of the Fib cycle. We are expecting the stock to reach 1965/2075 in coming weeks.
IRCTCIRCTC (WEEKLY):- 2094.8 CMP LOOKS GOOD FOR MORE UPSIDE :)
1) Weekly Breakout :)
2) Textbook Pattern
IRCTC Ascending triangle in the making.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.
