Reliance Industries Analysis

Reliance Industries Elliott Wave Analysis. As on 9 Nov 2019. CMP 1445

Bottom line : Both counts have similar implications – Short term bearish.  Intermediate term bullish.


Count 1 (bullish triangle) : Price has completed / near completed wave B at 1489 and would decline in wave C to 1130~ 1225.

Count 2 : Wave 3 of an ending diagonal is complete / near complete at 1489 and would decline in wave 4 to the 1250 – 1280 level.