AbhishekHSinghCMT

Reliance- Trading Incomplete Corrective B-Wave Till 965

NSE:RELIANCE   RELIANCE INDS
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3
S-L Short First & Long Later

Reliance is struggling to move up to the desired zone of 1035-1040 as expected in previous updates. Going below the Rectangular Box or leaking below - likely there will be a chance for Reliance to retest the 960-965 zone back again & assuming that will complete corrective B-wave

Trading Strategy
Going below 985 - shall be looking for 960-965 zone & Holding above 930 - we will come back later to see whether it can move up towards 1035-1040 zone to complete its upside leg & give us C-Wave .

Related Analysis Attached Below- How Reliance was an excellent call selling close to 1145 -swing high & falling from Triangle
Trade active: 13:35 Hrs 9th Dec2016

Last Price@1029

It did not leak below rectangular box -infact moved upside which I was expecting for so many days now till the index is in positive mood -looks like reliance might kiss 1040 mark & extended a little bit upside in the zone 1045-1050.

Best Regards,
Abhishek H. Singh, CMT
​Growth Director - TradingView India
YouTube Channel https://www.youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
https://twitter.com/TalksWave

Comments

looks like breaking out ?
Reply
AbhishekHSinghCMT uttamtrader15
@uttamtrader15, As expected some weakness which is not happening -now going forward if it drops below 1000 then bears will come back
Reply
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