If Reliance(1145.00) can hold the 1100 bottom and rally past 1220, it has the potential to reach 1305 to 1400.., provided Nifty stays in uptrend.
Monday, November 24, 2008
RIL- poised for a rally with the market..
Many stocks have done 80% retracement to the rise from Oct.27 bottom and are poised for a rally.Once Nifty clears 2739 and then 2860, 3000& above is possible.
If Reliance(1145.00) can hold the 1100 bottom and rally past 1220, it has the potential to reach 1305 to 1400.., provided Nifty stays in uptrend.
If Reliance(1145.00) can hold the 1100 bottom and rally past 1220, it has the potential to reach 1305 to 1400.., provided Nifty stays in uptrend.
Elliot's Impulse waves.(Part-5)
IMPULSE WAVES :- The Basics Waves that move the market in the direction of its main trend either up or down are called Impulse waves. 1....
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5010-5039 supply zone proved a ST resistance. 5002 proved a break down point. 4945 to 4982 proved a corrective rise, monitored with an ...
1 comment:
hello again sir
i was just searching for elliot wave rules and came accross this.
thought you would like to know as we are in a similar situation.
Wave 4 will most often retrace to the end of the previous Wave 4 of one lesser degree
take care
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