NIFTY – I have given 3 charts above. The 1st one is birds eye view, the 2nd zeroed in and the 3rd my own observation whenever a triangle is made.
In the 2nd two charts, I have shown the elliot wave count as mildly sideways and preparing to correct. The sideways will be slanting upwards as shown. In the 3rd chart, I have shown a triangular formation and based on my own personal experience a slanting upward sideways movement is possible.
NIFTY – WHAT THE ABOVE MEANS
The bull run is intact. However, we are NEAR THE correction point. Markets may correct from the current position OR move sideways slanting upwards for some time before correcting. Once the correction is over as shown above in the 1st chart, we will resume our upward bullish run.