Reliance good short candidate
Updated
RELIANCE spot CMP 2087
Elliot wave study :- Counter is trading in major corrective wave 4 of impulse phase,, minor wave C of major wave 4,,
If wave 4 matures around this levels and major wave 5 unfolds from this levels we may see good fall in counter from this levels
Counter is good short candidate if breaks below 2060 levels and sustains for 15 mins below this levels..
down side counter may fall till levels of 1920-1840-1750 levels..
view gets negated above recent peak once trade is active below 2060 levels...
Elliot wave study :- Counter is trading in major corrective wave 4 of impulse phase,, minor wave C of major wave 4,,
If wave 4 matures around this levels and major wave 5 unfolds from this levels we may see good fall in counter from this levels
Counter is good short candidate if breaks below 2060 levels and sustains for 15 mins below this levels..
down side counter may fall till levels of 1920-1840-1750 levels..
view gets negated above recent peak once trade is active below 2060 levels...
Trade closed: target reached
RELIANCE made low of 1890 from 2060,, below first target book profit again can be sold in range 2000-2040
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