IRCTC Stock Analysis: Key Insights

Downtrend: IRCTC is following a descending trendline, indicating a bearish phase. A breakout above this trendline could signal a bullish reversal.

Support Levels:

• Immediate: ₹805-810
  
• Stronger: ₹760, followed by ₹690 and ₹637
  

Resistance Levels:

• Key: ₹858
  
• Higher: ₹902 and ₹935
  

Trend Outlook: The stock is consolidating near its lower range, suggesting either an accumulation phase or further downside if ₹760 breaks.

Budget Expectations: The government may announce favorable policies or benefits for IRCTC in the upcoming budget, potentially boosting the stock.

Stop-Loss Strategy: Traders can use the ₹790-800 level as a stop-loss for long positions to manage risks effectively.


Actionable Points:

• Traders: Watch for a breakout above the trendline for long positions, with ₹790-800 as a stop-loss, or consider shorts below ₹760.
  
• Investors: The ₹690-760 zone may be an accumulation area for long-term prospects, especially with possible budgetary support.