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Home » Elliott Wave Analysis of Rural Electrification Corp
Indian Stocks Trading

Elliott Wave Analysis of Rural Electrification Corp

RamkiBy RamkiOctober 16, 20117 Comments1 Min Read
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Even if you have no interest in this Indian stock, there are valuable lessons to be learned from every chart posted in Wave Times. You can use the techniques I am describing here on any well traded instrument in any financial market.

Elliott wave lessons Indian Stock
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View 7 Comments

7 Comments

  1. S H Jain on October 16, 2011 3:30 am

    Nice analysis of REC on Elliot Wave. Would be glad if it would be possible to post likewise analysis on S&P CNX Nifty and MTNL. It seems that market has forgotten the stock after it recently hit 10 year lows around Rs. 30.

    Reply
  2. RainMaker on October 17, 2011 9:06 am

    Sir,

    I have gone through many of your charts in this blog and always had a curiosity what is so significant about 70.7% ? It is not a fibo number, generally after 61.8% one can reasonably target 100%, (although there is 76.4 in between but not much importance is given to it by analyst).

    Thanks,

    Reply
    • Ramki on October 17, 2011 7:50 pm

      Hi rainmaker, 0.707 is the inverse of the square root of 2, just as the inverse of 0.618 is 1.618

      Reply
      • Sant Kabir on October 30, 2011 12:53 am

        Dear Ramki,
        As a follower of EW,with Prechter’s book EW Principle being my guide,I am surprised to see you counting zig-zag ABC with C doing more than twice of A. My experience with EW (though it is not as long as yours) tells me that C=A in most of the cases in Zig-zags and it is only in Expanded Flats , where B=1.382*A , that C can do more than 1.618*A.
        So we would be better doing a Double zig-zag in REC rather than a single one.
        Baaki—-TO EACH HIS OWN—
        Subjectivity is the hallmark of EW but guidelines are there.

        Reply
        • Ramki on October 30, 2011 2:40 am

          Hi Sant Kabir, Thanks for your comment. I have made it a habit to not worry about my counts too much so long as it helps in getting the direction right. (I am capable of being wrong there too!) So you are right in pointing out I am different!

          Reply
  3. surjeet on August 6, 2012 9:30 am

    hi sir, can you please update you count on REC Ltd

    Reply
    • Ramki Ramakrishnan on August 8, 2012 12:18 am

      HI Surjeet, Thank you for your comment and request. UNfortunately, I won’t be able to look at individual stocks as and when members request for the same. The exception is when something compelling happens in a stock or an index, something which I believe will be of interest to a whole bunch of people. WaveTimes exists to showcase the practice of elliott waves. Good luck.

      Reply

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