This is getting to be Fun - Reliance Infra
Now after My RCap post I am getting asked if it has bottomed and it is a buy now. Amazing how the ideal of buying is still so hot. And if it is down it must be a cookie.
But these are massive multi year patterns. Hard to call an early bottom. Not till you can count till point Z. I think we are in waved Y. For an early call you need to at least see an impulsive rally. And based on the Value wave model identify value. I hope you understand how to check on the value of a stock by reading a balance sheet, discounting its debts and cash flow. Or replacement value. If not Take a Class on it.
So I said to my self That Reliance Infra was forgoton. Here too I have not written in a while. Why? Because wave B took so long to form that you had to wait for wave C to start and when it did all of a sudden in days most of the damage is done. This is where time based analysis fails. How could I know how long I would remain in wave B. And if your patience runs out and you buy it thinking that it has multiple bottoms then what? The pattern was however pointing to
a break of the neckline as seen in the May 2016 post below. Stay tuned for more ''Truth About the Markets"
Now don't ask me if 96 is going to be a bottom, I do not know that.