Apr 082009
 

Most of you know that Fibonacci ratio analysis and Elliott Wave analysis go hand in hand. (Beware of the tendency to think that ratio analysis is more important than understanding the personality of the waves that make up a move).

In this post, I am going to show you why I think Reliance Industries Ltd faces a significant resistance at 1822. I use Fibonacci ratio analysis to illustrate my views.

Reliance Industries Ltd

Reliance Industries Ltd

Reliance Industries Ltd

Reliance Industries Ltd

Reliance Industries Ltd

Reliance Industries Ltd

Reliance Industries Ltd

Reliance Industries Ltd

  2 Responses to “Fibonacci Analysis of Reliance Industries Ltd”

  1. Dear Sir,

    I am very much interested in learning this theory . Actually i was surfing on the net for the right person who can explain me this method of analysis for last few months……

    Sir, I request you to explain me the same in simple way….. if possible.

    Waiting for the favorable response…

    Regards
    Mayur

    • Hi Mayuresh, Thanks for your comment. There are excellent resources on the web for you to study. You just have to search patiently and intelligently. I’m afraid that given my full-time job as a Treasury Manager, even updating this blog is a drain of my free time. Good luck.

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