Reliance Inds

Aater a 78.6% retracement RIL may finally have completed wave B. Wave (c) of B is five waves. A move below 1220 is the first sign of weakness. Daily momentum indicators will confirm with a lag, and a break of the rising channel at 1098 is way lower. What lies ahead is C=A at 966 or where C=161.8% of A then 845. Wave C extension while not certain cannot be ruled out in a free falling market. It would take us into the territory of wave 4 of lower degree with the wave 4 swing low at near 900-880