AbhishekHSinghCMT

Reliance- Cracks 3% - Has Wave 4 started? Downside (Top-2093)

Education
NSE:RELIANCE   RELIANCE INDS
Not A Trading Call. Just for Educational Purpose

Last Price-2010 / 11:46 Hrs / 11th Nov2020
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Recap
Fall Below 2060/2065 which was updated in the last idea published as mentioned looks like an impulsive Wave-3 down finished the fall from 2310 to 1835 lows.



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Present Day @ 11th Nov2020
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From 2370 Highs - It can be counted as 1-2-3rd wave done at 1835 lows - wave 4 possibly done today @2095 & falling in wave 5 next

Current upside move from 1835 to 2095 retraced close to 50 % can be possible wave-4 done at the tops (not confirmed yet)
Next Support (Don't forget) -1990-2000


Question to ask - Was that Wave 4 done at the tops today or a part of corrective sequence

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Early Snapshot
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Trade closed manually: 15:03 Hrs / 12th Nov2020

Nifty (Last - 12680)

Reliance (Last- 1975)

Nifty & RIL both can bounce before falling later.

Nifty
Can Bounce strictly above 12650 to 12775+ &

Reliance
Crossing 1975 & above 2010-2030 - "Careful at tops" & follow the idea.

Thanks & Wish You Happy Diwali
Comment: 10:03 Hrs / 13th Nov2020

Last-2020

Day High- 2024

Nice bounce above 1975-1st Target done at 2010 & reaching for 2nd Target -2030 & Traders have to be careful in the zone as suggested last. Thanks & Good Bye
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

Thank you sir.
+1 Reply
Comment removed.
4th wave will be in 2100s :)
Reply
AbhishekHSinghCMT Autocratic_Rohit
@Autocratic_Rohit, How do you know that Wave 4 will be in 2100s ?
Reply
Sir most likely, wave 4 not done yet but I might be wrong. I think that was just wave A of 4 and B has now started.
Reply
AbhishekHSinghCMT vibhorjain81
@vibhorjain81, Wave Analysis is like a mystery. Some corrections are one single wave & some corrections are various combinations as corrections usually have 13 or more possible combinations - to know which one will unfold is a mystery since its inception so as trader you need to follow price which is the ultimate confirmation. Thanks & cheers!
Reply
vibhorjain81 AbhishekHSinghCMT
@AbhishekHSinghCMT, right sir. I am sure I am still learning and there lots to learn.
Reply
samnav AbhishekHSinghCMT
@AbhishekHSinghCMT,
sir can you suggest a well structured course/book to read for a beginner in Wave theory?
also I want to understand the difference between wave theory and harmonics...
Reply
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