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RELIANCE - DECEMBER 2018 VIEW

NSE:RELIANCE   RELIANCE INDS
RELIANCE SEEMS TO BE MAKING A ZIGZAG CORRECTION IN WHICH WAVE A ENDED AT 1016. THE B WAVE IS A AGAIN A ZIGZAG CORRECTION. C WAVE OF THIS B WAVE SEEMS TO BE AN ENDING DIAGONAL , WHICH GIVES US A TARGET OF 1070, WHICH SHOULD BE REACHED LATEST BY 10 DECEMBER 2018 AND SINCE THIS IS A ZIGZAG CORRECTION, THE FINAL TARGET IS THE END OF WAVE A, I.E. 1016.7.
RELIANCE HAS ALSO MADE HEAD & SHOULDER PATTERN IN SMALLER TIMEFRAME, WHICH GIVES A MINIMUM TARGET OF 1141.5.

CONCLUSION
RELIANCE CAN BE SHORTED WITH A STOPLOSS OF 1210.15 WITH TARGETS OF 1141.5, 1070.5 AND 1016.7.
STOPLOSS CAN BE MODIFIED IN DUE COURSE BASIS THE CHART FORMATION AT THAT POINT IN TIME
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