🚆 IRCTC – Long-Term Base Building Underway Near 200 EMA!

IRCTC, the monopoly player in railway catering and tourism, is showing signs of accumulation after a prolonged correction. A strong basing structure is forming above the 200 EMA, setting the stage for the next multi-month rally. 📊 Technical Highlights 📉 Major correction from 2022 highs completed 🟪 Price has respected 200 EMA consistently (₹616 zone) 🔄 Recent higher lows indicate buyer accumulation 📈 Breakout above ₹850 could trigger a long-term move toward ₹1,200+ 🧠 Multi-Signal Confluence 🟢 Long consolidation = base formation 🟣 200 EMA support holding since mid-2023 📉 MACD flattening, preparing for bullish crossover 🔄 No lower low in the last 6 months = trend reversal signal 📈 Fundamentals 🏢 Monopoly business with no listed competition 💰 High RoCE consistently over 30% 🧾 Debt-free, asset-light model 📊 Revenue diversification across ticketing, catering, tourism 🌍 Direct beneficiary of India's infrastructure & travel boom 🎯 Entry Plan Entry: ₹770–790 range Target 1: ₹1,050 Target 2: ₹1,200 Stop-loss: ₹698