IRCTC has recently approached a significant multi-year support level at 768. This level has proven to be a reliable support point in both 2020 and 2023, indicating its importance for investors and traders alike. Currently, although we are observing a short-term downtrend in the stock's price, there is a potential turning point in sight.
If the price manages to break above the established trendline and maintains that elevated position, it could signal a promising buying opportunity. This scenario would be reinforced by two key confirmations: first, the reaffirmation of the multi-year support at 768, which historically has provided a cushion against further declines; and second, the breakout above the trendline, suggesting a potential shift in momentum. Thus, careful monitoring of these levels may provide strategic entry points for investment.
If the price manages to break above the established trendline and maintains that elevated position, it could signal a promising buying opportunity. This scenario would be reinforced by two key confirmations: first, the reaffirmation of the multi-year support at 768, which historically has provided a cushion against further declines; and second, the breakout above the trendline, suggesting a potential shift in momentum. Thus, careful monitoring of these levels may provide strategic entry points for investment.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.