<p>Ashwinsundar: I think you should follow the principle of “hope for the best but prepare for the worst”. There are certain things you can still do. Make sure Caltech knows that you are very interested in the school. Provide any relevant updates. Keep in contact in a positive way.</p>
<p>Again, as lizzardfire says, there is no way of predicting what will happen to the waitlist. They may clear 100, they may clear 30, they may clear none. Also, you would have no way of knowing where you stand on the list. </p>
<p>So you need to start looking seriously at your other options. Visit them, may be you will find they are equally or possibly more appealing at close quarters. Keep a positive attitude. Things will work out for the best.</p>