Long

Reliance- Likely to push in C-wave of ((iv))wave upside

Updated

(( ))- Circled wave
If Reliance starts moving above 995-1000 zone- it could give the C-wave of yet to complete ((iv))th wave in the zone 1035-1040.

Monthly Triangle for Reliance- The future pathway

Reliance Industries-B Wave Triangle with key resistance@1145

Trade active

14:26 Hrs 17th Nov2016

Last Price@884

Reliance did not cross 995-1000 zone -upside, it went close to 998 so, likely if we get a chance of selling close in the zone 890-895 with strict stops above 1000- we can look for targets 865-870. It is suggesting that smaller b-wave is still not done & can look for the zones 965-970 atleast till 1000 mark is protected.

Trade active

14:30 Hrs 17th Nov2016

There is a typing mistake - selling zone mentioned above should be 990-995 instead of 890-895.

Trade active

15:09 Hrs 17th Nov2016

Last Price@975-

Someone selling Reliance -falls sharply from 985's but be careful to book profits if taken short as post b-wave --likely c- wave should start upside

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Abhishek H. Singh
Growth Director - TradingView India

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