we are currently trading within the first impulse which comes after the accidental zone having the same origin as it was before the accident. So we can start counting from here as a fresh impulse. hourly view
As shown in figure , nifty lies here in wave 'B' which is corrective phase of wave ' A', so it must be around 60~70% max. the structure of wave B looks like an ending diagonal. once its been over we can see a continuation of wave 'C', As any impulse can not be stand alone,so there is high probability of wave C.Here high chances that price spent some time, over...
Chart analysis... 1.slight bounce from CMP 2.Corrective wave completion 3. fresh trend resumption