Nifty EOD 01-06-2012

Of the four Probabilities mentioned in EOD 31.5.2012 post, we have come down to two--

And my preferred one is Probability 2 as I believe Yb is not over as yet.
So my labels are:
Ya=5342-4789=553
Yb in play as YbA,YbB and YbC
YbA=4789-5020=231
YbB in play to retrace YbA by 90-138% in 3 waves say sw1,sw2 and sw3
sw1,from 5020 downwards, is panning out as a Diagonal which has done its minimum at 4848 but may do some more.
How much more?
We shall have to put this sw1-a diagonal- under microscope for that:

(i)=5020-4945=75
(ii)=4945-4982=37
(iii)=4982-4884=98
(iv)=4884-4947.5=63.5
(v)=4947.5-4832*

Now the fractals of this (v) can lead us to an answer as to how much more:
so lets put this (v)=4947.5-4832* under microscope--has it done a discernible 5 wave form?
The easiest of labels are:

but it has no extended subwave.
And for 5thsubwave to be extended it has to do minimum 8 more points i.e reach 4824.

Trying to label it differently:

Though the above chart has some issues with 4th subwave(retraced too little) but still I am not ruling it out.

Lets see what happens tomorrow---

Wherever we open,the oversold TA in 5 min and Hour charts are indicating a bounce intraday,whether it remains limited to 4885 or goes upto 4950 would depend on the global/local sentiments

Raghu