DISCLAIMER:There is no guarantee of profits nor exceptions from losses.
Technical analysis provided on the chart is solely the personal views of my research.
You are advised to rely on your own judgments while taking any investing/Trading decisions.
Past performance is not an indicator of future returns. Investment/trading is subject to market risks.
Seek help of...
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...
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,