chirag_Khasiya

Reliance elliott wave update for 27jan 2021

NSE:RELIANCE   RELIANCE INDS
Reliance 15min chart indicates that decline from 2120 is looks like an impulsive decline and wave (i), (ii) and (iii) is completed at 2035, 2075 and 1932 respectively and wave (iv) and (v) is pending.
1965-1986 is an immediate resistance range for wave (iv) retracement.
reliance may complete wave (iv) in 1965-1986 range and then it may again decline 70-115 points from there to complete wave (v).
And if it trades above 1986 then only bullish .

Comments

According to xabcd, my understanding is that reliance is ready to take a flight to reach 2524, as its pattern look like a bullish butterfly on daily chart and current position is at C.
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