Irctclong
IRCTC Weekly Breakout . Last week Swing High Get Broken ,
RSI Swing High Get Broken ( Strong Momentum )
With High Volume .
Targets Are 1595 , 1764 , 1865 and Soo On ..
IRCTC - 79.3% UP in Net profit - bounce back from Demand zone#IRCTC results Q4FY20 Net profit up 79.3% at Rs. 150.6 cr and Stock is treading near to supply zone and got positive volume in last treading session. Current, stock is treading in narrow range and closed above 20EMA. RSI break the resistance trendline and moving UP.
Price Range 1481-1502 >>>>>> Supply zone and Strong resistance
Price Range 1338-1350 >>>>>> 1st Demand Zone and Strong support
Price Range 1238-1247 >>>>>> 2nd Demand Zone and 2nd support
Price Range 1180-1190 >>>>>> 3rd Demand Zone and 3rd support
Showing Bullish in Technical Parameter:
CCI is treading UP
RSI is treading UP
MFI is treading UP
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Support : 1361 and 1350
Breakdown : 1381
CMP : 1401
Breakout : 1443
Short Target : 1485 and 1502
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Positive & Negative Point:
1) Bullish in Daily/weekly/Monthly chart.
2) Stock underperforming from Benchmark and sectrol index on 1 week and 3 month both
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(Disclaimer: This is only for educational purpose.)
IRCTC | Don't underestimate it
IRCTC has been consolidating in a pennant right under the resistance for about 2 months now.
Just broke out of it today, im long IRCTC until it hits 2000. Not selling before that.
Think about it, the Railways are yet to operate in full capacity after lockdown is phased out slowly. Definitely i would expect this piece of art to boost up once the economy is unphased.
DONT MISS IT!
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