Reliance Industries

Reliance Industries has been consolidating for weeks and the entire pattern now looks like a triangle with the lower end at 2061 and the to end is at 2172. If the triangle is complete, because wave E is done, then we are set up to start a Vth wave of some degree here. That means a move that breaks out above 2172. That would allow for a move that once again starts to scale new all time highs. This is an hourly chart so lots of noise on it. If we draw a channel for just wvae III to IV then the top end extends toward 2500.