we can expect this whole
impulsive move from 7724-8626 as inner wave (a) of (5) followed by downwards
wave (b) is in progress and followed by wave (c) upwards is pending.
Now within wave (5) of
ED started from 7724: -
·
Wave (a) completed from 7724-8626
·
Wave (b) downwards started from 8626 which is in
progress and already declined 300 points from high. Exactly we cannot say how
much wave (b) will correct but we can say its maximum limit downwards.
Generally, any part of an Ending Diagonal Triangle shouldn’t break below its
lower line (line joining wave 2 and 4). So we can expect maximum possible lower
levels for wave (b) till lower line of ED (lower red line). Normally we can
expect wave (b) as 61% of (a) but not compulsory, it may be less or more.
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