Reliance 15min chart indicates that decline from 2120 is looks like an impulsive decline and wave (i), (ii) and (iii) is completed at 2035, 2075 and 1932 respectively and wave (iv) and (v) is pending.
1965-1986 is an immediate resistance range for wave (iv) retracement.
reliance may complete wave (iv) in 1965-1986 range and then it may again decline 70-115 points...
Reliance is looking positive after completion of a corrective wave at 1855.
Now breaking above wedge line will leads to given targets in coming days.
wait for breakout above upper wedge line OR if closes above 2000.
- Wait for breakout
- Closing below lower wedge line will be SL.
