Positional Long Trade Setup | IRCTC | SHORT -MID TERM

9 בנוב׳ 2021

IRCTC

Observations:

1) On daily time frame, we can see finally, it closed above 10DMA.
10DMA is placed at 845.77 level range.

Please refer below chart : 1 day Time Frame.


2) Also on daily time frame if we apply for FIB Retracement then we can see that it has been trading between 50 & 61.80% level range of FIB.
Please refer below chart : 1 day Time Frame.


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• Sustainable breakout of 50% FIB level which is at 895 level range then we can see good upmove.
  
  
• Major resistance range is 895-905 level range. One can take Buy trade from CMP with target of 905 level if want to have short term positional trade. With SL of 840 level.
  
  
• Major support is at 800 level. Sustainable breakdown of 800 level will make it bearish.
  

Anyway, in general IRCTC is a good fundamental stock to have in portfolio for long term.

In mid term, we can expect the target of 1100 and 1200. One can keep SL of 840 or 800 as per risk taking capacity.

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Hope I made it easy to understand it.

Do comment your doubt or suggestion.

Note: Trade with SL as per your risk capacity. This is just my personal view. It is not a trade recommendation. Better to consult with financial advisor before making any investment.