Reliance set for fresh Rally

Jul 16

I am not too optimistic about Reliance in short term, however, I feel that Reliance has made 1-2-1-2 structure, and all set for a fresh rally starting Thursday. It should be a quick rally to cover about 200 points or 5-6 percent, before the budget, post which it should enter sideways zone..
Hourly Chart can show that its resting on 78% retracement, and a clear AbC wave.

Targets -
3275
3350
3450

Jul 24

Trade closed: stop reached

So it has come for the support in 2950 zone,, its expected to fall further in wave 5 of C. post which it can start a fresh rally.