reliance and mkt direction...

i see 5 impulsive sub waves forming on reliance as shown on chart with the 5th sub wave near completion, after which an upward corrective is expected. downside may be upto 1190.

nifty shows 3 waves in each leg down and up, the upmove in reliance if comes in a day or two will try to pull up nifty also by short covering. with just 2 more days left for expiry at the most it can move up to 2830-50.

as already said earlier tgt/support on nifty of 2661 nearly done today.