TRADE SETUP_LIC HOUSINGFIN_10% upside
The stock was seen rising in march 2023 in wave 1 all the way till June 2023. The retracement to this wave came in next 1month through the month of July.
Then from July till late September the stock was seen advancing up in wave 3.It spend the month of October subsequently in wave 4 corrective phase and now towards the year end, the stock is ready for wave 5 take off and can move towards 500 mark in November-December.
It should be noted that since the wave 3 was shorter than wave 1 it should be presumed that wave 5 will be the shortest and therefore a modest target of 500 is projected for this stock.
The stock is currently near a strong support area of 450.
440 can be used as a SL.
Please note the wave counts have been studied and marked on a 3hour chart.
Note*- Views expressed here are my personal observations/opinions. Always do your own analysis/research before taking up any financial position.
Then from July till late September the stock was seen advancing up in wave 3.It spend the month of October subsequently in wave 4 corrective phase and now towards the year end, the stock is ready for wave 5 take off and can move towards 500 mark in November-December.
It should be noted that since the wave 3 was shorter than wave 1 it should be presumed that wave 5 will be the shortest and therefore a modest target of 500 is projected for this stock.
The stock is currently near a strong support area of 450.
440 can be used as a SL.
Please note the wave counts have been studied and marked on a 3hour chart.
Note*- Views expressed here are my personal observations/opinions. Always do your own analysis/research before taking up any financial position.
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