On Monthly Chart, Reliance Industries also could be in trouble unless the market proves me wrong & reliance starts moving above 1145- which is the key resistance level for me.
If reliance leaks downside, below 795 then selling pressure will increase- confirming that it was a B - wave triangle & it is heading down in a C - wave & likely to travel 61.8% of A-wave which comes to 390-400 zone.
If reliance leaks downside, below 795 then selling pressure will increase- confirming that it was a B - wave triangle & it is heading down in a C - wave & likely to travel 61.8% of A-wave which comes to 390-400 zone.
Trade active
08:17 Hrs 25th Oct2016Trading@1064
Reliance is struggling & likely I expect some bounce back, but very important, it should not close above 1145 -which is a very important level or Laxman Rekha for me
This bounce back could happen from the lower boundary of trendline in the zone 1040-1050
If we get the bounce back then I will have to check what kind of bounce back has opened & what will be the next course of action.
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
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Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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.
Best Regards,
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
Abhishek H. Singh
Growth Director - TradingView India
YouTube Channel youtube.com/channel/UCYcnYveYBNLD-Qp54hvZogw
Twitter Handle
twitter.com/TalksWave
Telegram Handle
(Deleted)
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.