Elliott Wave analysis of Wipro (WIT) should have warned you that the stock was close to a near term top. A five wave move was completed at 450.45 on Feb 10th, and the Goldman Sachs downgrade was the trigger for the ordinary investor to sell. But as you are a believer in the power of Elliott Waves, you would have anticipated that the stock was ripe for a correction, and could potentially give back 50% of its recent gains. This ELliott Wave lesson has been repeated in hundreds of examples in WaveTimes. Also, your investment in the Elliott Wave book, Five Waves to Financial Freedom would have paid back handsomely because you now have in your armoury simple but effective tools to anticipate market turns. At the very least you won’t be exposed to nasty surprises. 
6 Comments
thankz ramki sir your valuable view on wipro.please post your views on nifty we are waiting.
very good ramki , your view is very helpfull
Ramki Sir your analysis of WIPRO is very helpful. I am new to EW and has been going through ur website since last few days and gradually getting nick of EW. You are requested to post your analysis on NIFTY
sir
Bank nifty touched 10960 from 7766 low and all time high is 13300. Please share ur views for bank nifty.
Thanks
Wipro made a fresh high of 453 and closed 449
Dear Ramki,
Thanks for the post. Today, Wipro went as high as 453, couple of points more than previous high of 450.45.
This is how I am interpreting this move. Would you please let us know if this is correct?
As of yesterday closing
1) Wave 5 ended at 450.45.
2) Wave 1 of corrective Wave started at 450.45 and ended at 439.75
3) Wave 2 of Wave A started at 439.75
As of today closing
1) Wave 2 shouldn’t cross the beginning of Wave1 – This got violated today
2) Conclusion – Still the Wave 5 is continuing, corrective wave hasn’t started.
Appreciate your help!
Regards,
–Ram V