RELIANCE - DECEMBER 2018 VIEW
RELIANCE SEEMS TO BE MAKING A ZIGZAG CORRECTION IN WHICH WAVE A ENDED AT 1016. THE B WAVE IS A AGAIN A ZIGZAG CORRECTION. C WAVE OF THIS B WAVE SEEMS TO BE AN ENDING DIAGONAL, WHICH GIVES US A TARGET OF 1070, WHICH SHOULD BE REACHED LATEST BY 10 DECEMBER 2018 AND SINCE THIS IS A ZIGZAG CORRECTION, THE FINAL TARGET IS THE END OF WAVE A, I.E. 1016.7.
RELIANCE HAS ALSO MADE HEAD & SHOULDER PATTERN IN SMALLER TIMEFRAME, WHICH GIVES A MINIMUM TARGET OF 1141.5.
CONCLUSION
RELIANCE CAN BE SHORTED WITH A STOPLOSS OF 1210.15 WITH TARGETS OF 1141.5, 1070.5 AND 1016.7.
STOPLOSS CAN BE MODIFIED IN DUE COURSE BASIS THE CHART FORMATION AT THAT POINT IN TIME
RELIANCE HAS ALSO MADE HEAD & SHOULDER PATTERN IN SMALLER TIMEFRAME, WHICH GIVES A MINIMUM TARGET OF 1141.5.
CONCLUSION
RELIANCE CAN BE SHORTED WITH A STOPLOSS OF 1210.15 WITH TARGETS OF 1141.5, 1070.5 AND 1016.7.
STOPLOSS CAN BE MODIFIED IN DUE COURSE BASIS THE CHART FORMATION AT THAT POINT IN TIME
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