Monday, December 02, 2013

Reliance capital elliottwave analysis..

Hi friends,
                  Reliance capital is been in a range for many months,Its making abcde up with e leg on right now which can target 400-420 levels
Now this abcde can be finishing a C of previous ABC or this could be a leading diagonal ,
Leading diagonal would be a bullish case in which after finishing abcde a abc correction happens finishing which the stock can take off and breach 420 levels which would be a breakout of multi year
slanting trendline resistance,At present scenario look to book around 400-420 levels and reenter at lower levels,Would post again once we complete more wave structure.


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