LIC- why the share price fell so much?

As per logic , when a price of an equity fell from listing date means,
either , secondary market players not interested in current pricing.
or the Major stakeholder is making money by off-loading his portion .
here we use our EW to find the bottom . 650 is our 5 th wave ending price .
if it supported here you can see a pickup of this stock from next week.as ABC