Ramco Cement
Possible Scenarios:
Bearish: If the price continues under the downtrend resistance and breaks below support levels (700 or 670.55), further downside could be expected.
Bullish: A breakout above the downtrend line could signal the end of the correction and potential start of a new impulse wave.
Wave Count: The Elliott Wave structure seems to be in a corrective phase.
Downtrend Line: A resistance trend line is drawn connecting recent highs, showing a bearish sentiment. Price has been moving within this corrective structure under this resistance.
Bearish: If the price continues under the downtrend resistance and breaks below support levels (700 or 670.55), further downside could be expected.
Bullish: A breakout above the downtrend line could signal the end of the correction and potential start of a new impulse wave.
Wave Count: The Elliott Wave structure seems to be in a corrective phase.
Downtrend Line: A resistance trend line is drawn connecting recent highs, showing a bearish sentiment. Price has been moving within this corrective structure under this resistance.
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