Both the scenarios 360 is critical level downside- if breaks, then can fall sharply downside.
Going to zone 435-440 where CD leg completes 161.8% of AB leg -face resistance below 440 & fall close to 395-400 zone in the choppy triangle -hold & then pushes up again above 400.
Moving above 440 can target for 470 & above 470 for 490 levels above 490 -crosses high of 522- made in Aug2015.
Day High on 13th April2017 - 435- Target Kissed as per Scenario-1 & took a U- Turn
One side it has already filled travelling from 423 to 436 as expected to complete the D-Leg of the pattern.
Pattern started working right at the top of 436 our PRZ(Potential Reversal Zone) as updated above.
If it holds below 430 then likely heading for 395-400 target zone next.
Boom- Falls ---Falls & Falls to 398 going into the expected target zone of 395-400 as updated above.
Morning gap of 418-420 - near by can be an attempt by B-Corp -if holds then we can see selling again. So going into the zone 418-420 & then falling is what I am expecting -should not keep moving above 420.
Target Done - idea closed- ABCD work done
Abhishek H. Singh, CMT
India Regional Manager
India Markets-BSE, NSE chat room- https://in.tradingview.com/chat/#b4sFOMIVqPkq8gfQ