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Reliance continuous run-up with extended(3.618) 3rd wave to end near 1997. Volumes are dropping suggesting it may not extend beyond 2000 levels. 4th Wave should start from there which could end between 1625-1570 zones. It has also formed inverse head and shoulders pattern which post breakout target 2333. All details marked in chart. Stock may not follow exact...
I am considering 2009 dip as the starting point for the analysis. So as per the analysis, sub wave iii of wave (v) of wave is either going on or completed. now, wave iii is at the 100% fibo extension here is a probable count for the fractals of wave iii,which suggests that wave iii is complete and iv is started here.https://in.tradingview.com/x/vVGsGLxT/,...
EW analysis shows that sub wave 5 of sub wave (3) of wave is going on here. probable tgt of wave 5 is 245 - 255. long term tgts can be 290 then 370.
EW analysis shows it is in wave in longer time frame. Currently sub wave 5 of sub wave (3) of wave is going on here. probable target for sub wave 5 comes around 140-150 levels. long term tgts derived from fib projections are here,