Week-end Thoughts : Channel supports & resistances

Normally the EW analysts (including me) get too involved with 5w and 3w(plus combos) forms and the channels that are drawn are inclined more towards finding synchros with 5w & 3w forms.
While moving up from 4770 (the wave labelled as C by me), could not be labelled either as an Impulse or ED by me --- so as an alternative I got more inclined towards simple channeling and found that the channels illustrated in charts below were good enough to locate  resistance points:

And going by same logic, we should be able to find supports as illustrated in following chart:

Synchronization with oversold zones and Divergences would be further useful for fine-tuning.

In the same context, AP tool also assumes significance, though choice of pivot points is very crucial herein:

 On Daily charts, though RSI-14 has moved into oversold territory, no positive divergence is apparent as yet.
A look at the Hourly charts tells me that though positive divergence has appeared on RSI-14, it has yet to make an appearance on MACD 5,34,5.

And based on above, it seems that the current bounce may not be very high----and is likely to be contained by the following channel--- followed by a dip below the current low of 5672 to give a positive divergence on MACD hourly as well as Daily charts:

But if we get two consecutive Hourly closes above the red channel shown above, then next guiding channels would be :