Nifty – In the charts above the 1st chart is long term chart showing cycle waves with 3rd cycle wave completed.
The next chart shows the expanded flat correction unfolding into wave IV.
The markets seemed to be STILL completing a abc formation for cycle wave IV in an expanded flat correction. In this configuration, we are now in the process of completing wave c upwards which is forming an ending triangle.
This upmove may come suddenly or may just fizzle out anywhere within the orange rectangle shown
Therefore one needs to be very careful within the next 7 days.