As suggested over the last idea - comment this morning @ 09:51 Hrs / 27th Jan2021 - 1890-1900 is the important zone - If it holds then another upside push is open & it can travel to 1975/2000/2020
--------------------------------------------------------------------------------------------------------------------------- ********Note- Falling below 1890 which is critical level-it may retest 1835 & new low expected************ ---------------------------------------------------------------------------------------------------------------------------
Once it crosses above 2020 - upside extension can be seen to 2050-2075 where traders have to be careful
Last Idea- What a top @ 2120
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18:16 Hrs / 27th Jan2021
Last Price- 1895
1920-1925 was taken out in today's session -next support which is "critical" & most important zone 1890-1900 - If it falls below 1890 then it has all chances of slipping to 1835 & even making new lows
Holding this critical support zone 1890-1900 - traders can still expect upside push but overall structure is bearish so proper risk management is required in trading
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09:24 Hrs / 28th Jan2021
Last Price @ 1912
It was false breakdown below 1890 - as it has bounced above 1890 - traders should look for 1950/2000 + but manage with proper risk
What a beauty - yesterday, I was taking about false breakout topic in the comment below to Terminator_1
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09:54 Hrs / 28th Jan2021
My bad for for using wrong words ------ "taking" about false breakout instead of using "talking"
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10:25 Hrs / 28th Jan2021
Last Price @ 1904
Traders have initiate their positions always close to key level- 1890 or max zone of 1890-1900
As going below 1890 - stock will always have uncertainty & if you fail manage your risk - it can trouble you.
Please manage risk properly which important aspect of trading. Thanks
Since the price was not closed above 1920- 1925 can we expect thr price to touch the next support at 1845 level
WaveTalks
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@PVCHAMY, I have suggested in the title dear - "Reliance- Important Support Zone 1890-1900" Also read the update mentioned
ReviveTraders
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amazing 😍 sir......
SunilMaddala
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Do you feel that the 4th wave was a BIG running Flat... and the 5th wave still yet to unfold/
WaveTalks
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@SunilMaddala, No. Likely it would be out of proportion which is important aspect to be taken care within wave analysis & mostly it is overlooked. Best possible it is corrective -a bigger one or secondly 5th wave (least preferred) considering the time element - whatever it is assumed - outlook is bearish & 1835 & lower levels are still possible but with a retest of highs till 1890-1900 zone holds
SunilMaddala
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@AbhishekHSinghCMT, Got it thanks for replying..
praveen38
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it seems accumulation is going on in this range, it will blast up next week..it seems.
Akshay77
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Thank you sir. Amazing analysis. But sir RIL has completed it's 5 wave sequence and now we can expect correction of whole 5 wave sequence. As RIL in bear market. What should your opinion?
WaveTalks
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@Akshay77, Its a corrective phase which is running currently - a complex correction