Since my last analysis Nifty has not given any clear sign of the market direction.
My bias is that it should give a good correction before giving the next leg up and hence in the above count I have taken the movement from 9215 as an Expanded Flat correction.
The other probability is that the Wave B is still not complete and is progressing as some kind of complex formation, which still remains to be seen, however even in that case a correction will be due.
The most probable downside targets are :
T1 : 9075
T2 : 8955
The invalidation point will be above the last peak.
I will update as the market progresses.
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