Nifty – Markets in all likelihood to cross the all-time high at around 18900 soon. I have given the count in red within the triangle drawn. However, the triangle being TOO NARROW raises doubts about a triangle formation in any case.
Normally there is an overthrow and the markets can rise 100-150 points easily above the top boundary line. This can/may take the markets beyond 19000 easily.
Price action is to be seen carefully in the range between 18900 and 19000 to CONFIRM the above wave count.
Nifty 2nd ALTERNATIVE COUNT TO ABOVE
This count is more bullish and assumes that the rise above 18080 is a standalone impulse wave. This will be a VERY bullish count but needs confirmation in days to come.
CONCLUSION
Markets are to recover in all probability fall of yesterday and climb above the all-time high. Thereafter observe the price action to determine the alternative bullish counts. In all probability, once the all-time high is breached expect the correction to the full impulse wave which commenced from 16800.