Reliance Elliot Waves, Gap analysis, Head and Shoulders Pattern Education

RELIANCE INDSNSE

Description

⋅ Sep 20, 2020 1:23 PM

Disclaimer: Just for Study purpose, trading/investing not recommended on this analysis it can be wrong.

Reliance gives classic examples where it shows similar targets with help price action and Elliot waves.

Inverse Head and shoulders breakout target seems to reached

As 3rd Elliot wave is extended 5th Wave should be normal (not extended)

During Run up it created Breakaway Gap, Runaway Gap, Exhaustion Gap

Comments

dhankotarif

⋅ Oct 17, 2020 8:29 AM

awsome and clear analysis. thank you for making this efforts. it helps me a lot to understand charts better.

Kirandeepc

⋅ Oct 2, 2020 4:16 PM

Awesome analysis Sir, I am following you on telegram also.U rembr I ask her to discuss nd u send list of channels. wonderful analysis. I am also learning Elliott wave can u suggest me some resource. Thanks Sir

Niftydirection

⋅ Oct 2, 2020 5:02 PM

@Kirandeepc, Elliott Wave Principle: Key to Stock Market Profits

IfOnly

⋅ Sep 21, 2020 11:57 AM

very nice analysis.

Just one question, how it is calculated that corrective ABC will go upto 1800. Is it always goes upto 38.2% or its just assumption that it will atleast go upto that level?

Niftydirection

⋅ Sep 21, 2020 3:58 PM

@IfOnly, Minimum 38.2%, in case of deeper correction 50% or 61.8% also possible. Deep correction occurs in case of bad news or upside run for extended price move.

AniketKabir

⋅ Sep 20, 2020 3:57 PM

Great efforts. Nicely drawn.

Niftydirection

⋅ Sep 21, 2020 8:21 AM

@sandeepkumarmeenagreaternoida, thank you sir.