Given the fact that the 50 % retracement at 9756 has already been broken decisively, we see a significant risk that the market will ultimately head for 4605 (76.4 %), which is the classical wave II target on higher scale and follows the completion of the so-called accumulation phase. This is supported by my previous idea in scenario 3 however I now believe this to be the only scenario and highly likely.
Same target still active.