IRCTC is poised for its first wave-5 cycle on short to medium term. Since the IPO was done and shared listed only recently, it's tracing a 5-wave on 2-hr chart. The craze for the shares and skyrocketing of prices well defined the characteristics of Wave 3, that got completed some days ago. Its' since been dragging sideways on Wave 4. While I am not predicting whether Wave 5 will start immediately, it's not far either and it's only a matter of days before it embarks on Wave 5.
However beware that wave 5 will be a short trip upward and it's better to sell off in the region of Rs.980-1000, when and if, it gets there. The current price is around Rs.879...Set a stop loss of Rs.860 or if you are aggressive at around Rs.850.
This is a medium term play and not long term play. If you are a longer term player, wait and watch until all five ways complete and next reset happens.
However beware that wave 5 will be a short trip upward and it's better to sell off in the region of Rs.980-1000, when and if, it gets there. The current price is around Rs.879...Set a stop loss of Rs.860 or if you are aggressive at around Rs.850.
This is a medium term play and not long term play. If you are a longer term player, wait and watch until all five ways complete and next reset happens.