Monday, March 09, 2009

>Technical analysis Bombay rayon(BRFL)

Bombay rayon (BRFL) Will try to explain the trading setup in this
sleek reward with negligible stop loss.

From chart its clear 5 down from top
the 5th ended up making a falling wedge which is a nice
bullish pattern which results in spiky rise with huge volumes
and exactly that happened.

See the combination of Elliott wave theory with chart patterns how nicely
both gelled together.
Result a solid vertical rise from 85 level to 100+ in a single day.
So after few failed trades or bad run who starts to think Technical s don't
work in Markets have a second thought before giving up.Technical s do work
perfectly at times and generally gives good hints about a particular trade etc
provided done with due diligence.
Do leave your comments whether you follow technical s or not.




good strategy with good analysis.

Anonymous said...

I'm a novice at Technicals.. but i've been following your blog for a while now, and am convinced that they work as well..
In fact i'm even thinking of subscribing to your services based on all your analysis and trading philosophy.

What are the levels to watch out for in Bombay Rayon based on your analysis?


Anonymous said...

Technicals work. EWT basically sucks.

vsangeeth said...

yes boss,
rightly said...the recent wolfe pattern in HUL worked spot on...i mean in weekly charts....almost 30% correction over ih HUL..
Now Herohonda seems to be the next short candidate...ending diagonal pattern is witnessed in weekly....technical do work...

DEEPAK R S said...

alwys Gr8

Anonymous said...

100% accurate analysis, huge gains to your readers.
Thank you very much.

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