I think nifty is in Wave B of 2 , waiting for wave C to develop to Short for long term
My view is we are in early stages of a Wave A down and may have just completed the wave 1 and 2 of Wave A and are currently going to go much lower. If this is the large wave 4 down as i have noted, we may be in months of a corrective phase.
I'm seeing a large and a small bearish flags developing ...lets see how this works...It is in line with a wave C down
GJ seems to have completed wave b and should be starting wave c down, which should in an ideal case be wave a = wave c feedback is most welcome ! Cheers !!