Nifty-I have given two possibilities above in red and blue. Please see the red and blue markings in isolation to understand better.
The red count.
Here the correction is over and the upmove taken from the LOW is presumed to be an impulsive wave which is yet to complete (OR WE SHOULD GO UP TODAY AT LEAST FOR 1ST HALF)
The blue count.
Here the correction is not yet finished and we may have another round of correction but NOT BEFORE MARKETS GOING UP IN 1ST HALF as part of the abc move up. In the blue count, the correction can test the low already made at 19600.
COMMONALITY BETWEEN BOTH COUNTS
We may or may not correct more, but the bull run is intact for now.
What above means
We are in a bull run. All corrections are to be seen within this parameter unless proven otherwise. We also have settlement day today , where volatility is expected as always.
NIFTY Opening On 27th July 2023