How we missed an 8% move despite Elliott Waves’ clear signal

As you know, I offer a paid service for members of my Exclusive Club where we use Elliott Waves in real time to identify and track a stock from planned entry level to exit. The most recent such endeavor was Ajanta Pharma. On 15 January, the stock has closed at 1083.50. I suggested to members to buy the stock at 1075 for an 8% move, although there was potential for much bigger gains. Here are some of the charts for your study. It is possible that some of my members with significant risk capital decided not wait for the next 8 rupees, and bought it at the opening, because the stock opened at 1083 and jumped straight up. It has already almost reached the 8% target is two straight sessions. Now that is the power of Elliott Waves! We missed it, but there are other opportunities in the market. We just need to know which one to pursue. I teach these methods in detail in my online program, which is currently available at a 50% discount. Now here are some of the charts as promised:

But we are looking at it now, and have to consider how much potential this stock has to the upside.

There were a total of 19 charts where I had explained the rationale for why this stock looked good. But I am sharing some of them in this free blog for the benefit of readers. The hourly chart that follows is also important, and discusses a concept you would have read in my book “Five Waves to Financial freedom“. Here, we are looking in detail at wave 1 from the significant low at the end of the diagonal triangle.

Skipping a few more, I present the chart that shows the near term target.

Here is an important Elliott Wave chart. I always evaluate risk vs reward. And sometimes, in the effort to protect my members, I choose the conservative approach. Even I knew that 1075 was only 8 rupees below 1083, but if I had said this was a case of buying at the market, the fill would have been at less than desirable levels. Knowing the pressure points, and the risks and opportunities they present is what differentiates success and failure.

We decided to wait for 1075 and a bit lower to buy our second lot, but the market had other ideas. On Friday, 17 Jan 2020,  just two days after the analysis went to my members, the stock reached 1171. 

What should we do now? Well, we have moved on to another stock 🙂

This Elliott Wave blog is here to help you with real-life examples of how I use Elliott Waves. There is a lot more you can learn from the case studies that are discussed in my online Elliott Wave course. But don’t consider this as a marketing message. I have been writing my analysis for free for 35 years, and you can see the kind of global following that it has enjoyed by reading

By the way, these recent examples are from the India markets, but my members are from around the world. They approach me for consultations on global stocks and indices as well as commodities. The most recent one is a Nasdaq stock that soared like a Kite and then crashed. Another one is a penny stock in Hong Kong. I will try and post some examples of these other instruments later in the week. Enjoy.


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  1. Ramki sir, in the chart where you show the near term target and you say ” An equality measure for wave 3 comes………..” , there is a point which is lower than the wave 2 shown (a spike ) . So is the wave 2 a running flat or we have chosen to ignore the spike ?

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