If you look carefully, you can find some real gems in the market, and these are the stocks that you should trade! Reliance Communications Ltd is one such stock, as it has behaved perfectly from an Elliott Wave perspective. In today’s update, I will present you with several charts that shows how one could have traded this stock from the short side all the way down from 845 to current level of 64 (Yes, such trades are indeed possible using Elliott Wave Analysis to pick low-risk entry levels, and if you are a smart trader, you could have traded the corrections inside too). My methods are explained in the best selling ELliott Wave book “Five Waves to Financial Freedom”. You can apply those techniques to any well traded instrument. But today, our Elliott Wave Analysis will focus on Reliance Communications Ltd. This is an Indian stock, but you should study the charts even if you have no interest in India! They make quite an interesting read. Enjoy.
P.S. Can someone please alert me if/when this stock reaches near 44 so I can place my orders! Thank you.