Nifty – We had earlier considered a flat correction. Within the flat correction, we had expected markets to come down as a C wave. THIS C WAVE MAY BE STILL ONGOING.

However, we must also consider this correction as wave 2 within the assumption that the rise from 18060 was an independent impulse wave.

Whatever the case may be, the common factor remains of the correction is STILL PENDING.
This will be clarified in a day or two of price action.

TO SUM UP

In all probability, we are in a bull run. Within the bull run, we are correcting. Correction in all probability is only PARTLY finished. Once this correction is over we will resume our upward trajectory.