Pre-Market View:
And I have tried to construct Ya Impulse(from 5777 downwards) in following manner:
.png)
Thus today's likely range is 5580-5635
EOD Post:
The two charts posted in the morning have got fully honoured---
And currently they are looking as :
.png)
.png)
The second chart shows that the subwaves (copy-book style) proposed in the morning were not made and markets chose to continue and complete the Impulse Ya in their own style.
However, a word of caution is compulsory.
sw5 is quite capable of doing upto 1.618 of sw1=134=5516(5650-134) so tomorrow morning dependinf upon global concerns etc. we may open with a gap-down again.Although in that scenario,
the boundary of previous gap at 5527 is expected to act as a good support.
Next,logical move is Yb--a retracement of Ya=5777-5561*
.png)
And I have tried to construct Ya Impulse(from 5777 downwards) in following manner:
.png)
Thus today's likely range is 5580-5635
EOD Post:
The two charts posted in the morning have got fully honoured---
And currently they are looking as :
.png)
.png)
However, a word of caution is compulsory.
sw5 is quite capable of doing upto 1.618 of sw1=134=5516(5650-134) so tomorrow morning dependinf upon global concerns etc. we may open with a gap-down again.Although in that scenario,
the boundary of previous gap at 5527 is expected to act as a good support.
Next,logical move is Yb--a retracement of Ya=5777-5561*
.png)
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