the price seem to be retracing from its long term rally and now it is falling up to 61.8% of the Fibonacci retracement
if the price started to rally from the place where it is now we can target 3290 directly but if it retraces to lower supports then we can target 1 TP after the retracement
Wave 4 Correction is place on larger degree
WAVE 4 is showinng WXY correction with X Wave faked out around 2100 and then Y leg started.
We will get the confirmation of wave 5 impuse only when it breaks 2100 and closes above it. At that time the target is 2400 and 2550-2600 for Wave 5 Impulse leg.
On the down side, if Y leg is extended a bit, it may spend some...
Reliance given pennant breakout on weekly chart and was on consolidation in range for few weeks, which can be seen clearly in daily chart. A must buy scrip now... Targets on chart...
Daily timeframe chart
As Many of you know that INDIAN Budget 2021 is focused on infrastructure and It is pretty much possible that the stocks related to it will jump.
So, Here is our analysis of RELINFRA, But Let us first talk about this company -->
Reliance Infrastructure Limited, formerly Reliance Energy Limited and Bombay Suburban Electric Supply, is an Indian private...