Reliance has under gone complex correction after
it had a spectacular rise in five wave which was terminated in october 21(2751)
after that though this high was crossed in april 2022(2856)
and nov 2022(2755) ,in both the occasion the break out could not sustain.
in nov 2022 x wave was terminated at the start of wave a as shown in the chart,
and now recently y wave was terminated at the end of wave a.
it appears its correction has ended,it is observed y wave has desired fibonnacci projection
of x wave(not shown in the chart).
The recent rally seems to be impulsive in lower time frame.
we have to watch as it appears its correction is over.
first we should look for break out of the channel to prove its impulsiveness.
just ignore 1 and 2 letters written in white that is for my convinience,
we should here look for a impulsive move being developed which should be confirmed
by the break out of the channel.
it had a spectacular rise in five wave which was terminated in october 21(2751)
after that though this high was crossed in april 2022(2856)
and nov 2022(2755) ,in both the occasion the break out could not sustain.
in nov 2022 x wave was terminated at the start of wave a as shown in the chart,
and now recently y wave was terminated at the end of wave a.
it appears its correction has ended,it is observed y wave has desired fibonnacci projection
of x wave(not shown in the chart).
The recent rally seems to be impulsive in lower time frame.
we have to watch as it appears its correction is over.
first we should look for break out of the channel to prove its impulsiveness.
just ignore 1 and 2 letters written in white that is for my convinience,
we should here look for a impulsive move being developed which should be confirmed
by the break out of the channel.
