In my previous four hour Elliott Wave Analysis, we were in red wave 3 which in my opinion terminated early by placing a bottom near 34.12 and corrective wave red 4 started  and also ended near 38 area. Now we are in final part of red wave 5 and the ideal target for this wave is near 33 and there is no expectation for extending lower as we saw extension in red wave 3.

muhiuddin