- February 13, 2012
- Posted by: Ramki Ramakrishnan
- Category: Indian Stocks Trading
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.