First of all let me tell you that most of you guys are long in nifty just because of the pattern formed in nifty but its not a valid pattern you can confirm it on internet http://www.investopedia.com/terms/c/cupandhandle.asp
Now let me come to my analysis
Its the monthly charts of nifty where you can see a strong and also a inverse head and shoulder pattern which is more clear on weekly charts. so keeping this things in mind you can expect a target of 10000 within 6 to 12 months and any correction should be used as a buying opportunity. And please avoid my previous post of bank nifty where I am taking about major downfall. I think the beginning of new BULL RUN.
please comment below for your queries and let me know if there's any mistake in my analysis.