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RELIANCE INDUSTRIES LTD
Long
Updated

Reliance - Swing Trade (Target - 2500)

148
#Study Material

Just an "Introduction of the Elliot wave theory". Keep this as a study material.

Note
Wave 4 has been aligned to Rs.2406. Which is a bit higher than the wave 1. Until and unless the wave 4 enters wave 1, the drawn elliot wave is good to hold. The early morning start will decide it. If it bounces back, target can be set at 2500/2600
Trade closed manually
Didn't went according to the theory. Entered the territory of wave 1, which is not supposed to happen for Elliot theory.
VigneshRaja-UthayaKumar
Chart PatternscorrectionwaveelliottwaveprojectionimpulsewaveNIFTYnifty50RELIANCErelianceindustriessensexTrend Analysis

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.
Chart PatternscorrectionwaveelliottwaveprojectionimpulsewaveNIFTYnifty50RELIANCErelianceindustriessensexTrend Analysis
VigneshRaja-UthayaKumar

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.