I Have given two alternatives above. In both these alternatives it is assumed that wave IV is already completed and wave V in progress. Within the wave V wave 1 is completed and wave 2 down underway.
In the 1st alternative wave 2 down is completed or near completion at present level
In the 2nd alternative, wave 2 down is still in progress and may finish at 16500 levels.
In both these alternatives, the markets will move up from NEAR to present levels to atleast level of 17750 .