Reliance Communication 30/05/17
Reliance communication - from a value wave position this stock is now deeper in the hole. It broke below the Feb low making the rise 3 waves and marking the start of wave 3 of C down to 31. 50-53 is the resistance zone now.

At a higher time frame wave C=A would point to 27. But 27 and 31 are too close and by the time wave 5 of C unfolds it would go lower. So wave C maybe extended and C=1.618*A = 19 would be the next potential target for wave 5 of C to complete.
