This is Daily time frame.
IRCTC went in consolidation after a big rally. For last three months it is in consolidation.
It form this triangle pattern while consolidating.
When the range became narrow, it gave good breakout with thick green candle with good volume.
Then it retraced and retested the resistance line and now acting as support.
Yesterday it form a hammer candle indicating a rejection to go downwards.
When it will break 876.60 level, the high of breakout candle, then we will get confirmation that breakout is successful.
IRCTC went in consolidation after a big rally. For last three months it is in consolidation.
It form this triangle pattern while consolidating.
When the range became narrow, it gave good breakout with thick green candle with good volume.
Then it retraced and retested the resistance line and now acting as support.
Yesterday it form a hammer candle indicating a rejection to go downwards.
When it will break 876.60 level, the high of breakout candle, then we will get confirmation that breakout is successful.
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AkshayAdak
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