imkhushal

Wave analysis of Reliance Industries

Long
NSE:RELIANCE   RELIANCE INDS
It looks like reliance has completed ABC pattern of correction and will move for 3rd (i) if that's true the price may open with a Gap as the correction against wave 1st (i) has been done approx 78% which indicate the Gap up opening.

Other scenario is (A) is completed and we are going for (B) which is an up move in ABC correction.

Pls enjoy the wave analysis. Request not to trade blindly use some of your own analysis.

Please like if you really liked it....!

Thank you.

Comment: Opening at 1951...trail you SL...may touch 2000 today itself.
It was looking like a bear trap in the previous day fall.
Short covering may come very aggressively if cross 1975.
Comment: keep an eye at 1930-34

Comments

Guys do not buy below 1934-1930 levels. this may test 1801 if 1885 is broken down. Long can be made above 1980 now or at 1801.

weekly support is at 1801.
Reply
@imkhushal Bro , can you please help me with Axis bank. I took short position in AXIS Bank at Rs.622. What should be my strategy in this position. Kindly help me bro. Thanq
Reply
imkhushal pasrk86
@pasrk86, 641 is a strong resistance....! 594 can be achieved....but need time.... i think today it will open with gap...! if dec fut then can hold. india vix is rising put call ratio is at 1.78 a correction will come sooner or later...!
Reply
imkhushal pasrk86
@pasrk86, hope booked some profit...!
Reply
pasrk86 imkhushal
@imkhushal, Dude, you are awesome . I booked profit at 608 levels Once again thank you so much bro. Superb analysis. Keep rocking @imkhushal
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@imkhushal - Brillaint work determining the exact bounce back point - December can look at 2300?
Reply
@Rosh10, thank you, we can add in cash on every dip for 2300+ targets...! Future has no future...! Pls understand the risk associated.
Reply
Rosh10 imkhushal
@imkhushal, Could you recommend an end stoploss beyond zones of dips!
Reply
@Rosh10, if your outlook is short term then 1934 will be stop loss as it is a level which falls at 61.8% and mostly respected.
Reply
Rosh10 imkhushal
@imkhushal, Shukriya
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