TradingView
champvimal
Mar 9, 2024 11:59 AM

LIC Housing Finance - Downward plan? Short

LIC HOUSING FINANNSE

Description

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.

Comment

Touched all probable Cs. Downtrend came. Trade closed in success.

Trade closed: target reached

More