Yesterday I had illustrated two charts as the first destination for the upmove started from 5477:
Yesterday's Chart:
.png)
And today morning, the target of 5607 was met at the opening itself:
.png)
Similarly AP Tool
Yesterday's Projection:
.png)
Today's Update:
.png)
Advantage of SHARK pattern and AP Tool is that they define the next course of action as well:
So a SHARK says CD=AB
.png)
And then SHARK entails the probabilty of BAT or CRAB formation after it. But in current case that is ruled out:
.png)
And otherwise also -- there was a tentativeness in market moves throughout the day and may be the expected INFY reults & IIP data expected tomorrow were weighing heavily-- causing choppiness and lack of traction.
For tomorrow, EW has kept both probabilities open:
.png)
OR
.png)
A level below 5506 is therefore not expected.
Yesterday's Chart:
.png)
And today morning, the target of 5607 was met at the opening itself:
.png)
Similarly AP Tool
Yesterday's Projection:
.png)
.png)
Advantage of SHARK pattern and AP Tool is that they define the next course of action as well:
So a SHARK says CD=AB
.png)
And then SHARK entails the probabilty of BAT or CRAB formation after it. But in current case that is ruled out:
.png)
And otherwise also -- there was a tentativeness in market moves throughout the day and may be the expected INFY reults & IIP data expected tomorrow were weighing heavily-- causing choppiness and lack of traction.
For tomorrow, EW has kept both probabilities open:
.png)
.png)
A level below 5506 is therefore not expected.
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