IRCTC - Can the upward momentum begin now?

IRCTC - Can the upward momentum begin now?

CMP: 835.45
TF: Daily

The count marked in BLUE is the primary one. I have also tried my best to mark all the internal subwaves too.

Observations:

Primary 1-2-3 are done and the 4th wave almost reached the 0.618% retracement level. (Although 0.38-0.5% is the preferred limit for wave 4)

However, the invalidation point is TOP of WAVE 1, which is, 774.90. Price reversed from 783 and inching higher.

From positional investment perspective, the risk vs reward ration is very good/attractive at this level (SL at 770)

Price brokeout from the falling trendline as well.

I have an interesting observation on this counter, which, I will share in a different post shortly.

I am not a SEBI registered Analyst. Views are personal and for educational purpose only. Please consult your Financial Advisor for any investment decisions. Please consider my views only to get a different perspective (FOR or AGAINST your views). Please don't trade FNO based on my views.