A possible Down before Up

I have noticed an alternative pattern in ONGC . This could play out if the previous major patter was an ending diagonal . In the current pattern it is possible that ONGC has finished the B wave of the ABC and is now due for a C wave which should complete @ 150 kinda levels. A breakout to the lower side would confirm the continuation of the C wave and this seems to be highly probable, then followed by a possible up move. My view is that there is first a down move, then depending on the pattern that develops, there could be an up.
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