Updating from Yesterday's Charts:
Now,how to gauze & say where this Z.a would end?
In EW it is the most difficult aspect to say where W1 or A would end,particularly when discernible pauses/retracements are absent.
So I would also not hazard a guess.
And based upon the length of this Z.a only,we can infer a length for Z so that also should be deferred.
Technically, 4843 appears a good resistance zone and that is definitely going to be tested.
Z.b can retrace anything from 38.2% to 76.4% for a zig-zag Z( most likely for such an Impulsive Z.a) and technically also now 4690-4720 band would be a good support.
Nothing more to offer. Try to decipher Z.b as a 3 wave form .Right now,nothing more can be mentioned about it.
Raghu
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