Reliance Industries

Reliance Industries dipped today but the marking is only wave IV of C. A last push in wave V of C higher is pending. The ideal point for the A-B-C to reach is the 61.8% retracement level at 2165. The rise being A-B-C would be a counter-trend move in a larger B wave. The failure to cross 2165 is important to prove further that the move up is wave B. First let us see a failure to go past 2165 then we can discuss wave C down.