Nifty-I have drawn two expanding triangles , red and blue.
THE RED EXPANDING TRIANGLE ABOVE
Here the price hasnt touched the upper boundary as yet. However in expanding triangles it is quite normal for the upper boundary to remain untouched in the last wave.
THE GREEN EXPANDING TRIANGLE SHOWN ABOVE
Here the upper boundary is touched and we should have a downside from somewhere here.
CONCLUSION
Markets are top heavy and should have a correction anytime now. However after the initial fall, markets may or may not try to revive.
This expected correction to be seen as within and part of the ongoing bullish upmove.
NIFTY Opening On 18th Sep 2023