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Reliance Industries

9 Sep 202002:01 PM

I covered the stock many times last week and the reason has played out. A triangle in wave 4 completed and today we closed marginally outside the top end of the pattern meaning wvae 5 probably started with a close above the 20dma, and pushing the daily momentum into buy mode. Since 3<1 I am making a simple approximation where 5 maybe shorter in a swift move to the top end of the rising channel near 2550.

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