Reliance is at a strong reversal zone

RelianceCMP 2677

Elliott- the ABC correction is a zig zag. The C wave is always the sharpest and in my view it is complete.

Fib- its at 38.2% Fib retracement of its recent swing lows. This means strength.

Trendline- support at the fib support is telling me this correction is over.

Oscillators- now we need reversal signals from the oscillators for confirmation.

Conclusion - though we still dont have a reversal signal in my view this is a high prob reversal zone.
Technical IndicatorsTrend AnalysisWave Analysis

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