Reliance good long candidate
Updated
Reliance spot cmp 1875
Bullish crab pattern formation
PRZ zone around 1840 levels
SLZ zone below 1780 levels on closing basis
Target around 2000,2060,,2135 levels..
Elliot wave counts
Counter is trading in major impulse wave 3 of bearish impulse phase,,
Major wave 3 can mature around 1800 levels,,
If major corrective wave 4 unfolds from this levels we may see good reversal till levels of 2050 to 2150 levels..
Inter mediate impulse counts of major wave 3 , may mature around 1840 levels and reversal for corrective phase can be seen
RSI divergence :- price making lower low and RSI is making higher low,, bullish divergence observed in this last fall,, indicate reversal on cards
Bullish crab pattern formation
PRZ zone around 1840 levels
SLZ zone below 1780 levels on closing basis
Target around 2000,2060,,2135 levels..
Elliot wave counts
Counter is trading in major impulse wave 3 of bearish impulse phase,,
Major wave 3 can mature around 1800 levels,,
If major corrective wave 4 unfolds from this levels we may see good reversal till levels of 2050 to 2150 levels..
Inter mediate impulse counts of major wave 3 , may mature around 1840 levels and reversal for corrective phase can be seen
RSI divergence :- price making lower low and RSI is making higher low,, bullish divergence observed in this last fall,, indicate reversal on cards
Trade closed: target reached
RELIANCE spot now trading at 2010first target reached book profit,,
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