EW analysis on Nifty- Are we heading down?

NSE:NIFTY   Nifty 50 Index
After an impulsive move from 12430 to 7511 we saw correction from 7511 to 10554 levels. Correction took the form of zig zag wherin A wave looks like leading diagonal followed by B wave (3wave move) and ongoing Wave C is near completion range. Now it looks like wave C will be followed by 5 wave downside impulsive move. So it is better to stay cautious with long positions at this level. View negates above 10560 levels.


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