Elliot marking is wrong. 4 never goes in the territory of 1 this is the formost important principle of Elliot. you are expecting downtrend in reliance. It is very difficult that reliance gives u target of 1936 Also reliance is the main component of nifty. If reliance goes to 1936 where the nifty will go ? As per the chart in daily timeframe reliance is forming reversal chart pattern inverted head & shoulder. In hourly timeframe already breakout of neckline of inverted head and shoulder and target is pending.