Welcome to this Video Log, Elliott Wave Analysis of TCS by Ramki Ramakrishnan, the Elliott Wave Specialist. You will see here how Ramki uses his unique techniques to analyze the stock of Tata Consultancy Services or TCS.
You will see that the concepts discussed here are familiar from your reading of his Elliott Wave book “Five Waves to Financial Freedom“.
In this video, Ramki reiterates that despite some very supportive comments by the CEO of Tata Consultancy Services, (TCS), the Elliott Wave Analysis of the stock points in a different direction. He uses the charts of TCS to explain in detail how he arrived at his conclusions.
The stock had closed at 1107.90 on 7 March 2011 when the recording was done. Ramki explains how he considers that a full five-wave cycle is probably finished at the highs seen earlier in 2011. He shows that there was a simple wave 2 which was followed by a complex wave 4. This is in keeping with the principle of alternation seen in Elliott Wave Theory. Wave 3 was extended.
Interestingly, wave 5 was also extended. As you know, when we get an extension in the fifth wave, we will usually get a sharp selloff down to the sub-wave 2 inside that fifth wave.
In this video log – Elliott Wave Analysis of TCS, Ramki has explained several of the imporant concepts that a trader should know. Feel free to share with your friends and to post your comments on https://wavetimes.com.
Also check out Ramki’s signature online Elliott Waves Program. It is easily the best course available online. The focus is how to make you a confident and profitable trader, using Elliott Waves.