RELIANCE INDUSTRIES LTDViés de baixa
Reliance Industry - Elliot Wave Setup
Spotted a Elliot wave setup in Reliance Industry on a daily chart.
Currently the Point B is being active, today's AGM has a positive effect on the share price, making a green candle.
The target price for point C has been identified with fibonacci setup which is also in a perfect state covering point 4, 5, A, B, and C
A short position can be taken movement price start moving towards point C with target of around 2836 with stop loss at 3129
We can expect a bullish movement from the point of 3129-3100
Currently the Point B is being active, today's AGM has a positive effect on the share price, making a green candle.
The target price for point C has been identified with fibonacci setup which is also in a perfect state covering point 4, 5, A, B, and C
A short position can be taken movement price start moving towards point C with target of around 2836 with stop loss at 3129
We can expect a bullish movement from the point of 3129-3100
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