Nifty has completed the 5 waves and the 5-wave triangle (drawn in red above) as expected. Now in all probability, we must correct the full length of the impulse wave. I have drawn the Fibonacci levels for the correction enclosed by the orange rectangle, till where the correction is expected and given levels in blue.
What shape this correction will take, we will only know with the 1st day of trading. I am personally expecting a triple zigzag correction.
I have given as an alternative some oscillations on the upper boundary before capitulating. Although this happens very often, it is not definitive as such. But the best is to keep it in mind.
We must also keep in mind that the upper boundary acts as a resistance, and the higher the previous ongoing momentum, the more chances of oscillations around that resistance.
In the present circumstances, the oscillations MAY not be there as the momentum had slowed down considerably(the last wave in the triangle you will notice took more time to reach the upper boundary than the 3rd one.