RELIANCE: IMPULSIVE WAVE

Stock is rising in an impulsive manner on the lower degree time frame and is likely to form a five wave structure on the higher degree time frame which will be a base building for the next higher level. The current structure suggests that stock has already concluded its 3rd wave and currently retracing back in a wave-4 which is likely to conclude in the region of 2406 which is 38.2% retracement level.


Buy 2410-2406 SL 2371 tgt: 2480/2520