Hi All,
It seems two options may be unfolding in nifty based on EW.
1. Correction for the rise from 7540 to 8180 is still unfolding and we may see 7900 (or below) in coming days if kept below 8200.
OR,
2. Correction completed at 7940 and new up-move may have started targeting 8300+. In this case, we may see a dip till 8070 (chk fibo numbers for the rise from 7940-8160) and then another major up-move.