Z.b may retrace 38.2% to 76.4% of Z.a( as mentioned yesterday).
This Z.b can be any corrective form: Zig-zag,flat or even a combo so why hazard a guess?
4690-4720 band remains a good support zone and I for one feel this Z.b would get exhausted within it to go up again as Z.c,surpassing 4800 & testing 4840.
Intraday charts present following picture:And the labelling of Z.a can either be done as 4588-4780:
or Z.a=4588-4781.55
Minimum length of Z.c=0.62*Z.a=120
Raghu
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