Also, if you look at the big descending , you can see that it already broke out. Although the breakout doesn't look that strong enough to carry the momentum too far but it'll be crucial to watch if it gives a successful throwback to this . That small inside the bigger one makes it a little . If the the throwback test to the resistance turned support fails, that would indicate the posssibility of a potential move towards INR 20, long term.
I'm expecting a sideways breakout to this giving a smaller B to the larger Z of WXYXZ, and down for a last leg down to complete the large Z. My potential target for this B is around INR 34-35 level. If this levels breaks with a strong then it can also skip this last C before moving up to next potential and that would be around INR 46-48 level, IMO . That would be very .
All of this is just possibilities though and anything is possible. Trade smartly and REMEMBER, this is not a financial advice.