Published on: December 18, 2023
The Indian Railway Catering & Tourism Corp Ltd. (IRCTC) took centre stage on D-Street today, experiencing a remarkable rise of 12.59% to Rs.879.15.
Traders employing a process-driven approach found themselves on a profitable journey as key indicators signaled opportune moments for entry and bullish momentum.
For those adhering to a process-driven trading system, the journey on the IRCTC rally began with a buy signal at Rs.675, followed by a bullish trigger at Rs.725.
The Point & Figure (P&F) daily chart of 1% X 3 played a pivotal role in this rally by triggering a triple top buy signal at Rs.725, confirming the bullish trend. P&F charts, known for their simplicity and effectiveness, provided traders with a clear visual representation of the upward movement in IRCTC’s stock price.
Adding to the robust set of indicators, the Adaptive RSI (ARSI) was crucial in signalling a bullish crossover when the stock was trading at Rs.675. This crossover marked a significant turnaround from its previous bearish phase at Rs.840. Traders employing ARSI as part of their strategy gained valuable insights into the changing momentum of IRCTC shares.
For those curious about the Adaptive RSI and its application in trading, an in-depth video explanation is available on YouTube. This unique indicator is exclusively accessible on the TradePoint and RZone platforms by Definedge Securities. If you wish to see the Adaptive RSI in action, get a Definedge Securities demat account and access our trading universe with a variety of patterns & indicators for free.
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