21 day Twiggs money flow chart of Reliance Chart shows that it has broken
the twiggs money flow negative divergence and also trading above zero, which
indicates buying pressure above Rs1090 (Overhead trend line resistance)
Source:
www.marketcalls.in

Reliance, the most difficult part to play the  trend for the past few months and from the nma charts it not giving up the 200 day moving average since april 2009. Long term weakness will prevail only if this stocks indened to dip below 1800.
Source:
www.marketcalls.in

Here is an example for 21 day twiggs money flow breakout. 21 day Twiggs money flow principle is applied to chennai petro and check it out how it performs after breaking twiggs money flow divergence over the time
 
Related Readings
 
Reliance and Chennai Petro in Breakout – 26 July 2009
Source:
www.marketcalls.in

By Constucting GANN FAN lines for Reliance ,probably we could understand the nature of
the movement in that stock. The GANN FAN line is applied to the indicator as shows in the
first chart.
 
The Most intresting part comes when zoom into May 2009-SEP2009 period. The Zoomed
part is shown in Chart-2. From the chart 2 we could understand that Since June 2009 Reliance
Started Oscillating between major GANN Resistance/Support line which is highligted with a red
circle. Also we could understance the formation of Invesrse 5-3 Ideal Elliot Pattern in Reliance as
shown. And …

Sensex is showing a broader range of negative divergence pattern from 21 day Twiggs money Flow indicator with short term resistance near 16100 levels and Support zone comes around 15400. Breakout above 16100 could take us to the next resistance levels of 16600.However respectingthe resistance zone 16100 indicates a possible trend reversal

Reliance also showing such a broader range of divergence similar to sensexNote : Reliance was mistaken to be breakout in last posthttp://www.marketcalls.in/2009/08/reliance-and-chennai-petrocpcl-in.html
Reliance is still in the grip of negative divergence
Source:
www.marketcalls.in

Twiggs money flow indicator for both Reliance and Chennai Petro turns positive also
the negative divergence pattern got broken indicating buying pressure in these stocks
Source:
www.marketcalls.in

Everything remains the same
— Reliance Lags Nifty
— Nifty Wintess 3 Week Top Formation in Weekly Charts
— Trin is above 1
— FII's Remain Netsellers
— Dollar Bottomed Out in short term along formation with bullish divergence in charts
– GANN Tussle between bullish and bearish lines from the GANN Charts
 
– GANN Supports near 4500 and near 4220-4240.
 
– Baltic Dry Index down more than 40% since June 2009
 
– Crude at criitcal resistance trading near 200 Week Moving Average along with bearish divergence in charts
 
– Montly Support near 4220( 5 EMA montly)
 
– Weekly Resistance near …

Everything remains the same
— Reliance Lags Nifty
— Nifty Wintess 3 Week Top Formation in Weekly Charts
— Trin is above 1
— FII's Remain Netsellers
— Dollar Bottomed Out
– Breakout above 4600 and Breakdown below 4350.
Source:
www.marketcalls.in

Applying 13-34-55 EMA strategy along with 2 period RSI to Weekly charts. We could able to 
find that reliance possibly could trade at ultimate supports as the EMA supports 34 EMA and
55 EMA(weekly) are very close to the price(1835). And also RSI-2(weekly) value near 5 suggests
that correction in reliance probably might be over temporarily and could outperform nifty in short term
in coming weeks.
Source:
www.marketcalls.in

Just got fooled with the randomness in the 15 min Nifty future chart in my earlier view . So looking into a higher timeframe as shown above Nifty has formed a typical 5-3 wave pattern with 5 wave downward impulse pattern ending near 4155 and 3 Wave impulse pattern ending near 4440 levels. This pattern will fail if nifty opens gap up above 4440
Now Nifty Future is likely to resist near 4440 levels so that elliot wave pattern in houly charts could proved right or Else resisting near 4500-4510 to …