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Reliance analysis with Harmonic + Elliott wave analysis

Long

RELIANCE INDS (NSE:RELIANCE)

NSE:RELIANCE RELIANCE INDS

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Presently, the price is trading in ABC corrective wave inhere the Harmonic Alternate Bat OR Gartley pattern is in progress.

Reversal of Gartley Fromm 1895 of 0.786 fib ratio.
Suppose to, the price fall then, alt. Bat pattern of reversal zone is 1801 nearby for 2009 and 2130-50

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Comments

I don't understand what is the need of this kind of complex analysis. even though this is not working 100%

i think it has reversed from Gartley reversal point...

imkhushal

@imkhushal, Lets see :)

your Gartly not working ,

Great analysis, even though I dont understand most of it but you seem to have put in a lot of effort and with passion. What I am interested in
1. Will Reliance go up or down from present levels within this expiry and where is it likely to close
2. What is the range for Dec
I can get a lot of info from OI vol data but what are the charts telling you.
thanks

livetripwire

sure

Great... MEM 👍

santoshorange84

@santoshorange84, Thanks

I think if it is able to hit entry 1 , then it will hardly recover from entry 2. safe to short until dec. though. btw kudos for the analysis.

@nsv00261