LIC India YR END Target near to 1488

Jul 16

LICI Seems to be in the wave (iv) (green color) of wave 3 (gray color)

Within this wave (iv) it seems to be running wave ((iii)) which might reach till LTH-117, if so it will complete rounding bottom pattern there around budget date, if it comes down a little around 1100 in the form of wave ((iv)) then if it moves up above 1175 it will complete C&H pattern and that will set target of 1488.

The wave in green color must end above 1175 somewhere between fib levels 1260-1305. A correction in the form of wave 4 must pull it down and then the last wave 5 must end close to 1488.

Theory is hypothetical as the none of the rounding bottom or C&P pattern is completed but if my wave theory count is correct then the journey might look similar to this.

* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade with applying your analysis and at your own risk.

Jul 16

Note

Another possibility is wave 3 has already finished at 497, on 8th FEB and now we are in wave 5, if so still target up to 1300 is ON where wave in green ends but if C&H is formed then we might see 1488 too as per original theory.

Jul 22

Trade active

Went till 1146, 30 points away from first target. So far looks like following the wave well.

Jul 25

Note

First target of 1175 is almost done, this completes the rounding bottom pattern and now from here either stock can give breakout directly or might make handle in the form of wave 4 in green and then give breakout.
Let's wait and watch

Jul 26

Note

finally made new LTH, with this now it is a buy on dip with stop loss below 1020, it can form a handle or may give direct breakout with a target of 310 runs from this level ~ 1480. A monthly close above this level 1175 would be better to back the theory

Jul 26

Note

with 1197 as new LTH, now the next fib level 1261 is opened as probable wave 3 high point. Volume is looking nice
With today's weekly close above 1175, it will be a buy on dip until 1261 and 1305 fib levels.

Jul 26

Note

Weekly close above LTH, nice to make high moves.

Jul 31

Trade active

Monthly close at 1176, just 1 point above previous monthly high 1175 but this 1 point was very important. With this now LIC is a buy above 1200 2hourly/daily close seeing price action.

Another thing which is possible is if we see a correction in the form of wave#4 in green then once we see that is over then seeing the price action we can take a trade.

* It is not a trade advise but technical analysis shared based on my understanding of patterns and personal experiences, please take any trade with applying your analysis and at your own risk.

Aug 7

Note

Bingo: going so well as per the waves drawn, So after making LTH it has come down in the form of wave 4 and now if wave 4 in green is completed at 1075 then it should resume up move soon.
It was predicted to make a small handle after cup was formed, holding 1075 is important else that means the correction can get extended.

Aug 13

Note

the Handle is supposed to mark bottom tomorrow,

Aug 27

Note

As predicted the stock did not move below the low made on 13-14th August and that concludes wave 4 drawn on the chart.
Also the low was formed very near to the timeline cycle drawn - the vertical line.

Now it need to be complete the handle.