A flat correction is taking place in IFCI. a Turn around stock
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Elliott Wave Analysis:-
View 1:-
A fall was completed an impulse 1st wave seems to be completed and an correction 2nd wave seems to the impulse was taking place.
If the high 18.85 was not broken then the previous low 8.50 have to break and we can accumulate around 5-7. which will be a safe bet. It has 70% govt holdings. only reason to touch this chart. if this was going to form a impulse then we may accumulate in every fall. but it seems to be an Penny stock kindly keep this for resarch purpose or kindly consult your financial advisor before taking this trade.
I'm not a SEBI registered advisor.
Further details will be added in comments .
View 1:-
A fall was completed an impulse 1st wave seems to be completed and an correction 2nd wave seems to the impulse was taking place.
If the high 18.85 was not broken then the previous low 8.50 have to break and we can accumulate around 5-7. which will be a safe bet. It has 70% govt holdings. only reason to touch this chart. if this was going to form a impulse then we may accumulate in every fall. but it seems to be an Penny stock kindly keep this for resarch purpose or kindly consult your financial advisor before taking this trade.
I'm not a SEBI registered advisor.
Further details will be added in comments .
Note
it reached the top as we expected. now i'm expecting a correction and will wait and watch the wave formation.There may be also a slight upside move is possible if it turns impulsive.
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