It seems LIC Housing Finance will make a downward direction plan after the steady uptrend. As per the 15 Mins TF chart, it is making ABC structure after the trendline break. Also, there is a distribution zone / Supply Zone from where the price is falling. RSI is slipping downwards too.
To confirm a downtrend, 630 needs to be broken with good red candle. If 625 (Gann Number) breaks, then more possibility / opportunity for downside. Probable C placements are as shown in the chart. Let's see how it goes. Good exercise to study ABC Elliott Wave Structure model in a practical manner.
To confirm a downtrend, 630 needs to be broken with good red candle. If 625 (Gann Number) breaks, then more possibility / opportunity for downside. Probable C placements are as shown in the chart. Let's see how it goes. Good exercise to study ABC Elliott Wave Structure model in a practical manner.
Comment:
Touched all probable Cs. Downtrend came. Trade closed in success.
Trade closed: target reached