IRCTC Double bottom breakout on monthly chart!!IRCTC chart suggests breakout on Monthly, weekly and Daily charts.
Double bottom formed on monthly basis
critical level 780.
Likely to Hit targets 840 - 920 - 1020 -1300
IRCTC trade ideas
IRCTC: Train is ready to leave the station, get inAs NASDAQ is making new ATHs, the Indian stock market is also reacting to catch up.
within the Indian stocks, the giant is IRCTC with a monopoly over a multi-million dollar annual turnover.
I am bullish on IRCTC with the target marked in the picture. Price action is bullish on all time frames once the resistance at 850 -900 INR is broken this train is going to fly.
IRCTC*IRCTC*
P&H Formation on Monthly Basis.
*W* Formation on Monthly Basis.
Strong Price BreakOut & Sustained.
Vol. BuiltUp gaining Traction post Heavy Consolidation.
RSI: 1H=D>W>M. All in Bullish Zone.
Sectoral Outlook highly Positive.
*Trail SL with Upside*
*Book Profit as per Risk Appetite*
*_Do Your Own Research as well. This is an Opinion "
Happy Investing 😇
IRCTC looking good Increased optimism and market sentiment:
Positive outlook from the company management: IRCTC's recent AGM saw positive statements from the management regarding the company's strong financial outlook and post-pandemic recovery. This has instilled optimism among investors about the company's future growth prospects.
Overall positive market sentiment: The broader Indian stock market has been performing well in recent months, which has created a favorable environment for all stocks, including IRCTC.
Specific events and initiatives:
ICC Cricket World Cup 2023: The ongoing Cricket World Cup is expected to boost IRCTC's business volume, as fans travel to different locations for matches. This anticipation has led to increased buying interest in the stock.
IRCTC's offer for air passengers: The company recently announced an offer for air passengers, which includes discounts on travel insurance and IRCTC eWallet recharge. This initiative is seen as a positive step towards attracting new customers and diversifying the company's revenue streams.
Increase in foreign institutional investor holdings: Foreign institutional investors have been increasing their holdings in IRCTC shares in recent months, which indicates growing institutional confidence in the company.
Overall strong business fundamentals:
Dominant market position: IRCTC enjoys a dominant position in the Indian railway catering and tourism market, with a strong brand name and a wide network of services.
Strong financial performance: The company has been posting strong financial performance in recent years, with consistent growth in revenue and profits.
Government initiatives: The Indian government's focus on promoting tourism and developing the railway network is likely to benefit IRCTC in the long run.
IRCTC Daily Chartforming C&H pattern
above 750-800 level
upside you can seen in chart
RSI above 60 daily/weekly/monthly
As publish earlier maybe uptrend is confirmedCan wait for larger moves coming ahead.Stock looks good huge consolidation already done.
IRCTC nearing one year high cmp 745.45, will reverse 15% again ?IRCTC nearing one year high cmp 745.45
Previously in Sep 2023, reversed 15% down from the recent high (resistance zone)
reached monthly resistance zone, technically reversal seen near the resistance.
Monthly Resistance 740 - 783
IRCTC : Book Top Birth, Else in Wait ListHopes, dreams euphoria, FOMO all are emotions that drive the journey of an investor/trader.
PSU's as a pack continues to contribute huge wealth creation, those who missed can still look at it is leaving the empirical negativity surrounding this space.
One may continue to feel, that this space has reached top and can potentially drive down faster and quicker and stay there for decades, that is the majority experience. Not any more
It is better to book top birth than in the wait list. One such place is the IRCTC. It did move to current levels and than fell almost towards the 630-640 handle and then the rise.
It is about the leave the station, for the education of the reader, it is an investment view, traders can do their own risk assessment. There was rise and initial failure, that met the support.
Currently the red resistance line drawn now acted as support, the dotted downward arrow is the point. Add to that the upward demand line aided by the moving average of 14 days. Half Moon Cycle.
A close above 735 would propel towards the 800. Investment view negates if we close below 688 on daily close basis.
INDIA RUNS ON TRAINSIRCTC after a brief downtrend and retouching the critical support area, looking to move further upside, i'm pretty sure this wont look back at the support area anytime soon or for a longer time. Good earnings performance as well.
descending channel breakout in weekly chart.Today's bullishness t1-770
t2-909
t3-1044
Sl if re-enters channel.
posted earlier gave 4percent return today
maybe start of trend
IRCTC Levels and TargetsPleasure to have you here. This is an investment analysis done for the Tickr, and potential in the Technicals.
In this Daily Chart , the chart has been slightly in uptrend and as soon as it crosses its resistance, we will decide to make a position in the stock,
if you like the idea please like the post :) It will be a motivation to further such ideas.
Disclaimer Note:-
1) This is just an analysis setup and no advice to trade/trade
2) If you are making position, please have your risk to reward analysis and then enter.
3) The analysis and target shared does not mean i trade in them, entry and exit depends on the market open and other factors.
Irctc long strong support of fib 0.618 tested twiceCan take long if breaks above triangle pattern.strong support of fib 0.618 seen to respect twice
Focusing on IRCTC after a long time Finally the IRCTC is in a good upward trend and we will see a good response of news in IRCTC very soon.
1- A long old uptrend line is following and giving good support to this new uptrend.
2- Now the downtrend is over for sure.
3 - For around 2 trading days there will be more consolidation but don't be surprised if the 760+ target is achieved in this month .
IRCTC will continue uptrend we are 40 points running profitOn Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early trade can be taken above or below 23.6 and safe trade can b taken above/ below 41% ..
Please note:-
It's working on news based and volitile market very well so exit if SL hit
Possibilities of IRCTCNSE:IRCTC Currently stock making CUP&HANDLE pattern, after completed pattern wait for break its multiple time restance zone which is from 760 to 770. if break successfully resistance make position for 1st target of 825, 2nd is 900 and keep stoploss is 750.
irctc boom....hold tightlyrising trend line with three dives wedge formation and every fall land on upper layers of Fibonacci level...
IRCTC looking good for upside move For all trade on my Auto Harmonic patterns indicator trade setup -
Risky trades can take trade after crossing 23.6% on either side and safe traders can take trade after 41% We can start buying when our Trailing SL hit at 23.6% with SL of recent low our Target will be 41%, 78.6% , 127.2% 161.8% and 223.6 % , when reversal pattern appears on chart we have to trail our SL if trailing SL hit exit from long trade and initiate sell trade ,
[Diary] IRCTC Price Action IndecisionIRCTC if you look at daily timeframe will tell you to buy it.
Monthly tell to sell.
This is exactly why I do not have good trades right now.
IRCTC Positional TradeDecent RR Ratio - Positional Trade
IRCTC CMP 669
Strong Support 630
Target 730
Regards
Naresh G
SEBI Reg. RA
