Currently Reliance is trading near crucial level.
- If channel support is broken than it will be a good candidate to short.
- Potential Bearish Gartley or Butterfly 's D leg can be in the making. (B point was 0.618 of XA). If that be the case we can expect an upward journey above 1100. In the case of Bearish Butterfly it can go way up to touch the upward channel resistance.
So keep watching the big boy's move.
- If channel support is broken than it will be a good candidate to short.
- Potential Bearish Gartley or Butterfly 's D leg can be in the making. (B point was 0.618 of XA). If that be the case we can expect an upward journey above 1100. In the case of Bearish Butterfly it can go way up to touch the upward channel resistance.
So keep watching the big boy's move.
Comment:
Reliance has invalidate the Bearish Gartley formation. But we can have a Bullish Gartley formation' D leg in the making.
