Sun Oct 13 04:50:00 UTC 2024: ## IRCTC Stock Expected to Trade in a Positive Range, Option Strategy Suggested

The stock of Indian Railway Catering and Tourism Corporation (IRCTC) is expected to trade within a positive range in the short term, according to technical analysis and F&O pointers.

**Stock Outlook:**

* IRCTC stock currently faces resistance at ₹925, with a potential upside to ₹1,018 if it closes above this level.
* The stock is supported at ₹857 and ₹725.

**F&O Insights:**

* Open positions in IRCTC October futures have been unwinding in the last 5 days despite a price rise, suggesting potential profit booking.
* However, the premium over the spot price indicates the existence of long positions.
* Option trading suggests a potential trading range of ₹800-1,000 for the stock.

**Trading Strategy:**

* Analysts recommend buying the 900-strike call option, which closed at a premium of ₹14.65.
* The maximum loss for this strategy is ₹12,818.75 (cost of the option), which occurs if IRCTC fails to move past ₹900 before expiry.
* The position turns profitable on a close above ₹914.65.
* A stop-loss of ₹4 is advised, with a target of ₹25. Traders can adjust the stop-loss according to their risk appetite.

**Note:** This analysis is based on technical analysis and F&O positions, and there is a risk of loss in trading.

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