I shall be searching for support either at 1310-1320 zone or between 1230-1250 zone for next buying. If corrections happens to the zone 1230-1250 where it retraces 50% of wave 2- wave 3 distance can be a good spot for the last upside leg.
The fall looks impulsive from 1449 recent high & any bounce close to 1390-1400 should be taken as selling opportunity.
Shall be selling on the bounce close to 1390-1400 zone with 1425 as stops - remember are banned so look to buy in the zones 1310-1325 & if dips below 1300 then 1230-1250 zone as next for buying.
Last Update- It was informed that above 1295 -it looks good for buying.
Last Update- we will continue this post once impulsive sequence is done - I am expecting one down leg & final leg upside which should finish the complete structure
Falls from 1400 -after opening it bounced in the desired zone & started falling.
Closing this post at 1369 Price
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ
Are futures banned ?
I think RIL company is banned from markets for 1 yr .
My view :
I would be looking to buy in 1320-1325 zone (That would be dream price ),
I doubt it wont fall more than 15-20 bucks from todays close( Market won't give that easy 1320 opportunity , Target would be new high (on closing basis )