Reliance-Last Impulse 5th Wave Ended in Truncation-Wave Analysis

Jan 21, 2021

Small Modification - Possibly Last Impulse ended in truncation at the lows @ 1855

Why Traders Have to be Careful-

• Channel Resistance
  
  Corrective in next higher degree possibly close to end
  

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Recap from last idea
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2022- Most Important Level & fulcrum level so sell below & buy above was suggested as per previous ideas- Hope you enjoyed selling two times close to 2022 with minimum target of 1900 downside
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What Next ?
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Short Term

Next Most Important levels - 2100 / 2050 /2020 - which can be used as intraday levels for short term trades - Sell Below or Buy Above plans can be executed with proper risk management.


Long Term Outlook

Long Term Outlook remains unchanged which is still bearish as suggested for last few ideas with key level @ 2095-2100 as the most important zone

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Note
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Any sustained move above 2100 has to be reviewed again

Jan 22, 2021

Trade active

10:55 Hrs / 22nd Jan2021

Last Price @ 2077

2050 ----------------is important level. Getting close -traders have to book partial profits in sell below 2100 as suggested yesterday in short term strategy

Jan 22, 2021

Trade closed manually

Manage Your Risk & Trade - Happy Weekend

Calling The Tops close to 2120 on 21st Jan2021 as one set of correction was close to finish at the tops. Hence suggested all to be careful