IRCTC: Enjoy your tea with Cup & Handle
IRCTC
- The stock had given a breakout in June 2021
- the breakout had taken the stock in to uncharted territory
- luckily, we see stock giving us a cue with a Cup & Handle chart formation to arrive at a target of 3200 above.
Neck line of cup is at 1994 and the low made is of 774 - giving us 1220 points for the taking. Adding that 1220 to the neck line level, we get a target 3214.
Yes, I understand it is easier to say once the movement has happened... Any one can claim that with the benefit of hindsight...
So here is what was published about IRCTC on June 21, 2021 when the stock was around 2000 odd levels
- those who followed this Technical Analysis idea have easily captured the rally of more than 50% in less than 3 months
We are thankful and grateful to Technical Analysis for showing us the light.
Consider booking profits
- Going forward any dips towards 2650-2750 could be interesting where risk::reward ratio to buy might again look better
By the way there is one more Cup of Tea we are enjoying... Bharti ki chai bhi bohot achhi hai ( Oh sorry, it angered my wife... 👿 pls don't misunderstand me... I mean Bharti Airtel has also given a nice Cup & Handle breakout) 😉
You can thank me by simply Hitting the like button or writing in the comment section below...🙂
Follow for more such ideas
But don't just follow blindly,
learn to identify opportunities independently
Remember, it is better to ask questions before you enter the trade than to question yourself afterwards...
Some of the best trades happen when
- you stop chasing the money & start focusing on the process
- plan your trade to buy right & let the story unfold itself...
Happy trading...!!! 😊
- The stock had given a breakout in June 2021
- the breakout had taken the stock in to uncharted territory
- luckily, we see stock giving us a cue with a Cup & Handle chart formation to arrive at a target of 3200 above.
Neck line of cup is at 1994 and the low made is of 774 - giving us 1220 points for the taking. Adding that 1220 to the neck line level, we get a target 3214.
Yes, I understand it is easier to say once the movement has happened... Any one can claim that with the benefit of hindsight...
So here is what was published about IRCTC on June 21, 2021 when the stock was around 2000 odd levels
- those who followed this Technical Analysis idea have easily captured the rally of more than 50% in less than 3 months
We are thankful and grateful to Technical Analysis for showing us the light.
Consider booking profits
- Going forward any dips towards 2650-2750 could be interesting where risk::reward ratio to buy might again look better
By the way there is one more Cup of Tea we are enjoying... Bharti ki chai bhi bohot achhi hai ( Oh sorry, it angered my wife... 👿 pls don't misunderstand me... I mean Bharti Airtel has also given a nice Cup & Handle breakout) 😉
You can thank me by simply Hitting the like button or writing in the comment section below...🙂
Follow for more such ideas
But don't just follow blindly,
learn to identify opportunities independently
Remember, it is better to ask questions before you enter the trade than to question yourself afterwards...
Some of the best trades happen when
- you stop chasing the money & start focusing on the process
- plan your trade to buy right & let the story unfold itself...
Happy trading...!!! 😊
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