As shown above, Nifty markets clearly AIMING to take out the “All Time High”. This may happen this week or early next week. The triangle shown above can be taken as a finishing triangle for the 5th wave OR the completion of the 1st impulsive wave.
Whatever the case may be, correction is expected WITHIN the ongoing bull run anywhere from the present range to the 18950 range.
As mentioned yesterday, ONCE the major correction of the present impulsive wave happens, one can expect a very strong move upwards with normal intermediate corrections.
In conclusion, we are in a strong bull run with major waves 3 and 5 (still to come) expected to extend (strong waves). The strong impulsive wave commenced from 16830 to be taken as Wave One (either completed or just completed).