NIFTY is currently riding the 5th impulsive wave, with a potential target of 18400. This upside from current levels of 17300, could come from some of the Index heavy weights that haven't reached their all time highs (like the HDFC twins) and stocks like Reliance, TCS, Infy, LT etc in which some upside might still be there. Trade cautiously and do not take aggressive long positions, as intermittent sharp selling can occur before NIFTY tops and begins its ABC Corrective Phase.