RELIANCE - Currently into corrective wave a
- Wave a subdivided into 5 impulse waves i,ii,iii,iv,v (light blue color)
- Wave iii extended 1.618 times wave i
- Wave iv retraced 38.2% of wave iii
- Wave iv did not close inside wave i territory (EW cardinal rule satisfied)
- Wave v target is 100% length of wave i (@2413), which should also mark completion of wave a
Set-up:
- Short at CMP 2455
- SL daily close above 2470
- Target 2413
Trade closed: target reached
Target achieved. Trade closed.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.