Of the two Probabilities mentioned in my previous post, Probability-1 was followed and therefore the EW pattern that stands as of now is:
and in close-up:
As illustrated in chart above, B(c) has to logically go above B(a) i.e. 5939.
B(c) has done its minimum though and probability of B(c) failure( i.e. its going above 5939) can not be ruled out.
Daily Chart:
While momentum indicaters are pointing downwards, price action has gone back into the channel:
Thus final thrust to the down remains pending -- for tomorrow or after series expiry day -- remains to be seen. Probability of a gap-up above 5939 followed by sharp fall as Wave C of Corrective can not be ruled out.
As illustrated in chart above, B(c) has to logically go above B(a) i.e. 5939.
B(c) has done its minimum though and probability of B(c) failure( i.e. its going above 5939) can not be ruled out.
Daily Chart:
While momentum indicaters are pointing downwards, price action has gone back into the channel:
Thus final thrust to the down remains pending -- for tomorrow or after series expiry day -- remains to be seen. Probability of a gap-up above 5939 followed by sharp fall as Wave C of Corrective can not be ruled out.
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