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Reliance Industries Update

14 Aug 202002:21 PM

Eight day for RIL in a narrow band, no price change that is significant. And now sitting right above the 20dma at 2094 just like the Nifty. So with bands contracting is wave v over and truncated or wave v will extend in 5 waves toward where 3=1 near 2560. Same question as in Nifty lies in RIL and we should get the answer from the market itself. If 2094 holds and we breakout upwards toward 2228 and higher then its a bullish outcome for the next few weeks.

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