Reliance Industries

RIL did not complete a 5 wave move up as discussed in the last post so the rally ended in 3 waves. This means that we are still in a corrective phase from Nov on which is a series of 3 waves up and down. it could be a expanding triangle if wvae e down to the lower line near 1875 does not break. This is also very close to the 40 week average at 1899. So this is an important cluster to hold if we have to resume our move higher or maybe start a new impulse wave. Waiting for it to develop.