#Nifty
March20 low of 7511, taking 75 days trading cycle , here's an observation
The low or high made on each 75th day, when crossed and closed above/below it , market has moved in that direction for the next 75 days, happened twice so far, next such date to watchout is 16 Feb.
More from Prashant Bhansali
Same view on #Reliance 👍
5 waves from 1998 bottom
5 waves from 2015 bottom
5 waves from 2020 bottom
All on verge of completion on weekly and monthly charts
**3288** the level above which if it moves, need to re-evaluate analysis
IT'S ALL ABOUT CYCLES
#ElliottWaves https://t.co/gqaP855BxM
5 waves from 1998 bottom
5 waves from 2015 bottom
5 waves from 2020 bottom
All on verge of completion on weekly and monthly charts
**3288** the level above which if it moves, need to re-evaluate analysis
IT'S ALL ABOUT CYCLES
#ElliottWaves https://t.co/gqaP855BxM
#Reliance - Near completion of 5 waves from bottom in 98. Period of 2008-2015 was a clear triangle (wave 4)
— Harsh / \ud5c8\uc26c (@_Harsh_Mehta_) June 6, 2022
Some upside still possible but every rise calls for caution. https://t.co/9xjWbR1wn4 pic.twitter.com/gkz9WiUS2Y
#RIL tgts are 2180 and 1820 positional over next few months if the high made at 2856 doesn't cross.
Not looking good.
Not looking good.
#RELIANCE update
— Prashant Bhansali (@prashant280294) April 28, 2022
Was expecting 5th wave rally towards 2800-3000 as mentioned in previous post
Move played out, but now not worth chasing anymore
Not saying the move is over, it can still go up bit more, but riskreward not good for positional longs now on, I would stay away. https://t.co/eoLshLoLBD pic.twitter.com/G0qZAEBRIX