RELIANCE LONG
Updated
GO LONG IN RELIANCE INDUSTRIES LTD.
WAVE 4 IS COMPLETED CONSIDERING A=C NEAR 2106. IF IT GIVES FURTHER CORRECTION MAY TOUCH TO 1982 WHICH IS 1.618 OF WAVE A. BUT IT SEEMS UNLIKELY AS WE CAN CLEARLY SEE 5 WAVES DOWN IN LEG C OF ABC CORRECTION IN WAVE 4. PROJECTION OF WAVE 5 IS AROUND 3048
WAVE 4 IS COMPLETED CONSIDERING A=C NEAR 2106. IF IT GIVES FURTHER CORRECTION MAY TOUCH TO 1982 WHICH IS 1.618 OF WAVE A. BUT IT SEEMS UNLIKELY AS WE CAN CLEARLY SEE 5 WAVES DOWN IN LEG C OF ABC CORRECTION IN WAVE 4. PROJECTION OF WAVE 5 IS AROUND 3048
Note
As mentioned it extended fall which made bottom at 1981 i e near 1981 mentioned already. One can take a long position from here and as fall extended target for wave 5 is now 2950 levels
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.