Reliance- Elliot Wave
https://www.tradingview.com/x/ZDnaxnwK/
Presenting here is the Elliot Wave structure of Reliance. For the purpose of ease of understanding I have drawn only the main motive waves and in between skipped small counter waves in ABC.
Now, it closed above 2293 making a low of just .1 below the closing of 4th September.
Going further, this could be the point of reversal in Reliance or worst cum worst it is the white horizontal line at 2270.25. So, please wait and watch for an hour or so after opening of the market and previously mark high and low of candle mentioned yesterday i.e. 2:05 p.m and buy above that only. Today market may remain quite and sideways and from tomorrow trend reversal can be seen. Important candle going further up is 10-12-23 12:53 PM
Mean while, Better would be to check that weekly high is 2317.3, which has been broken, let it regain that.
Thank you.
Presenting here is the Elliot Wave structure of Reliance. For the purpose of ease of understanding I have drawn only the main motive waves and in between skipped small counter waves in ABC.
Now, it closed above 2293 making a low of just .1 below the closing of 4th September.
Going further, this could be the point of reversal in Reliance or worst cum worst it is the white horizontal line at 2270.25. So, please wait and watch for an hour or so after opening of the market and previously mark high and low of candle mentioned yesterday i.e. 2:05 p.m and buy above that only. Today market may remain quite and sideways and from tomorrow trend reversal can be seen. Important candle going further up is 10-12-23 12:53 PM
Mean while, Better would be to check that weekly high is 2317.3, which has been broken, let it regain that.
Thank you.
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