Corrective rise in Reliance
The current upmove in Reliance is corrective.
The recent low was made near the 111% level, which is considered the wave B level of Flat Correction.
The price is in wave C currently.
If anyone is interested in buying Reliance, there is a buying opportunity in the blue box. The stop loss will be below wave B.
The targets are open as:
Minimum 61.8% (the price is near this level)
Rule of equality 100%
Extended golden ratio 161.8%
This analysis is based on Elliott Wave theory and Fibonacci.
This is not buying recommendations.
Always do your research before taking any action.
For educational purposes only.
The recent low was made near the 111% level, which is considered the wave B level of Flat Correction.
The price is in wave C currently.
If anyone is interested in buying Reliance, there is a buying opportunity in the blue box. The stop loss will be below wave B.
The targets are open as:
Minimum 61.8% (the price is near this level)
Rule of equality 100%
Extended golden ratio 161.8%
This analysis is based on Elliott Wave theory and Fibonacci.
This is not buying recommendations.
Always do your research before taking any action.
For educational purposes only.
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