- April 8, 2009
- Posted by: Ramki Ramakrishnan
- Category: Indian Stocks Trading
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.