Reliance Elliot Wave Analysis

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Reliance till now formed a hourly doublish bottom near 2364 and second day in a row trying to hold it on a closing basis, 20 hour moving avg placed at 2385 move above it has next rest placed at 2403 and above 2403 we may see some leadership move coming by Reliance..

We are still holding the way that till it does not give a close below 2363 spot or can say round figure 2360 still reliance bulls have chance to form a 1-2-1-2 pattern and lift the nifty up..

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