Reliance- Anticipating before it happens-Bulls Eye Hit@1097

Anticipating before it happens is the feeling of nirvana to an analyst & one thing which really can trouble is ego- if you can control your ego-have patience & allow market to show you the way ahead- no one can stop you other than yourself.

In the last piece of analysis- it was suggested that reliance is running into wave-ii (which has broken into 3 pieces-"abc" where "wave-c" likely travels equal distance as "wave-a" -can get resistance close to 1100 & above 1100.


So, previous update- "Excitement to start above or close to 1100"

Click within the charts or nested charts & use amazing feature of TradingView -"load future bars-shown as an arrow on charts"

What Next?
Once we get a close or initial bounce above falling trendline from 1024 lows - one can look for trading that bounce with recent low as stop & target zone of 1045-1055 zone-later resistance could be seen in that zone so we come back again.
I always say confirm before trade -please do not jump just thinking that it will unfold as I said-there you come into the grip of ego- let market show you the way.

Reliance 2016 Diary- How we moved in 2016 & Where are we standing at present

Wish you all a happy Sunday!

Trade active:

11:22 Hrs 30th Jan2017

Last price@1031

Crossed the trendline but all will be choppy upside -larger trend is downside going below 1010 & 996 later will confirm that it will see some downside pressure.

Trade closed: target reached:

22:10 Hrs 31st Jan2017

Last price@1045

Target of 1054 done & out.