Technical Analysis of IRCTC Stock Chart

IRCTC stock chart

Fibonacci Retracement: This is the monthly chart of IRCTC stock. It is good buying opportunity as we can see that after around 50% correction , this is retest two times golden ratio of 0.618 and making double bottom which is good buying opportunity. This is the reversal signs which indicates that buyer are interested to buy this Stock. 0.618 is the golden ratio of fibonacci retracement which have the high probability from where stock shows the upward journey.  

Trend Line: Trendline is one of best ways to find out the breakout and breakdown of a Stock. Candlestick Chart retest two times the trendline , first when it test the level 0.5 of fibonacci retracement, second when it test the level of 0.618 of fibonacci retracement, now third time this trend line is looking weak because candlestick chart retest two times 0.618 level of fibonacci retracement and higher chances to break the trend line and this stock will show the price 704 and then 840 soon. 

20 Moving Average: The red colored line which is 20 moving average is also a important part to analysis of a chart. If stock breaks the 20 MA(Moving average) then with the help of fibonacci retracement we can analysis the stock price. After breaking the 20 MA , this is the habit of a stock price that it will definitely come back to test the 20 MA.  

Irctc pe chart

This is the monthly PE ratio chart of IRCTC stock. In which we can see that generally the stock has around 52 PE ratio is the decent ratio for buying. According to the history of this stock, when this stock is showing correction around 52 PE ratio then its the good opportunity for investing in IRCTC stock because this shows the uptrend after 52 PE ratio correction.  

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