Will MotaBhai Shine? or Fade away?
Reliance seems to be in wave 5 of A of larger degree wave 2.
Couple weeks ago we saw a super strong(dragonfly doji) bounce back from 1800 so wave 5 likely to get truncated around same levels and we can witness a long side correction in form of wave B
Long term buying should come in around 1600 eventually
Support/Resistance conveniently placed 200 points apart 1600/1800/1980/2200/2370.
Couple weeks ago we saw a super strong(dragonfly doji) bounce back from 1800 so wave 5 likely to get truncated around same levels and we can witness a long side correction in form of wave B
Long term buying should come in around 1600 eventually
Support/Resistance conveniently placed 200 points apart 1600/1800/1980/2200/2370.
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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.