Corrective rise in Reliance The current upmove in Reliance is corrective.
The recent low was made near the 111% level, which is considered the wave B level of Flat Correction.
The price is in wave C currently.
If anyone is interested in buying Reliance, there is a buying opportunity in the blue box. The stop loss will be below wave B.
The targets are open as:
Minimum 61.8% (the price is near this level)
Rule of equality 100%
Extended golden ratio 161.8%
This analysis is based on Elliott Wave theory and Fibonacci.
This is not buying recommendations.
Always do your research before taking any action.
For educational purposes only.
