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gnanasekarang

Reiance - short term

Short
RELIANCE INDS (NSE:RELIANCE)  
gnanasekarang  
NSE:RELIANCE   RELIANCE INDS
Trend Analysis Chart Patterns Wave Analysis RELIANCE relianceindustries
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trendanalysis chartpattern waveanalysis reliance relianceindustries
Observation:
1. Strong 3rd support at Rs.1874
2. 2nd support at Rs.2039
3. 1st support at Rs.2352
4. Formed Elliott wave 12345 pattern in DAILY timeframe, followed by correction wave (ABC)
5. After ABC, two bullish candle formed in daily with the help of volume spike (see right below).
6. Looks confirmation to go up of atleast 10% - Rs.2630+ in near term
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