Hello Everyone. There have been several requests from traders in the Middle East for an update on the Saudi Stock Index. You should take a look even if you have no interest in this market! Let me share with you some charts today just to show how you could have identified key levels by using some of the techniques you read about in my book Five Waves To Financial Freedom” The first chart here shows how you could spotted an important turn level by identifying a 50% retracement of a prior big down move.

Afterwards, from around 7950, the TASI index came off to a key support at the 70.7% level as shown here.

Was there any way you could have gained confidence that this support at the 70.7% level is likely to produce a bounce? Sure. Take a look at the next two charts.

More recently, we have run into some selling just below 7200. Wonder why?

Well, this blog intends to TEACH you how to use Elliott Waves. And it is all FREE. Go ahead and explore the hundreds of examples. Of course, you could also get hold of my book, if you like.

Do share if you found this useful


  1. Thank Ramki fo rthe update, but was is the next counting and its alternative in this case?

    Appreciate your response.

    Also would like to see your view on Dubai Financial Maket.

  2. Hello Ramki, Thank yu for this effort. Would you please share your expectation on TASI’s movments for the coming quarter? are those charts suggesting that a new upward wave has been started from the buttom 6,400 and targeting 9,000 levels?

  3. Dear Ramki
    Your charts clearly showed how traders could have identified key levels by using your highlighted techniques. Bottom line 7180 resistance is the key, otherwise we may see decent correction. Shall we say 6900 solid support!?
    Thanks and Regards,

  4. Dear Ramki
    I read your lovely book in an English version and i recommend it for every one who is interested in EWT , BUT you need to read it many times with applying what you get from it to your favorite market .
    Can we see a new update for TASI after one year from your last post?

    Thank you

  5. Dear Ramki,

    I have loved reading your book, and have learned so much from it.
    I would just like to know if there is any analytical software on the net, that incorporates the use of Fibonacci projection tools. As my brokers software only has the Fibonacci retrace tool.


  6. good day

    we all waiting for your update and we all sure that you will support us by updating the saudi index … im checking your site every day lloking for your update . please

    thank you

  7. Dear Ramki,

    Hope all is well at your end. I was wondering why haven’t you posted any recent analysis on Saudi and UAE we see many of your analysis on most of the markets and securities but nothing much on those 2 markets or the GCC in general, while Dubai is the best performing market.

    Would really appreciate if you could give us your views would really appreciate it.

    Looking forward for your analysis and views.

    Best Regards

  8. Dear Ramki
    Thank you for your kind insight of TASI. one important note we may forget to mentione which is KSA decides to open the market for ” Foreign Financial Institutions’ to Invest in Listed Shares ” in Jun 15th 2015. Do you think this will change your insight

  9. Hi Ramki
    reference to your valuable insight on April 13 TASI lost 30%. now do you think this fade is over or we still will see more down trend in the coming days?

      1. Dear Mr Ramki
        As you can see markets across the board witnessed a strong rebound including WTI and Brent which reflected positively on TASI. Would really grateful if you could provide us with you insight from an wave precpective. My sincere regards. RM

  10. Ramki thank you so much for the great advice saved a lot of losses that could have been made.

    Would be grateful if you could let us know your thoughts in yerms of the wave structure that we are in now and what is most probable scenario.

    Thank you again and highly appreciate your thoughts.


  11. Dear Mr Ramki

    Great call on Saudi. Many thanks for you insight.

    Would appreciate and Im sure also most of your followers if you could provide us with a short update on Saudi.

    Really appreciate your valuable time and effort.

    Thank you

  12. Hello Mr. Ramki

    As you may notice there have been several requests from traders in the Middle East for an update on the Saudi Stock Index. It will be highly appreciated to share with traders some charts just to show how you could have identified key levels by using some of the techniques

    Thank & Regards

Leave a Reply

Your email address will not be published. Required fields are marked *