A cup has formed on nifty on a weekly time frame. I do not have the knowledge or the experience currently to predict if it will form a parallel handle or a downward looking handle or a smaller cup. This also contradicts my earlier post where I had mapped the Elliot wave and projected a correction from the current levels. Please do give feedback. This is for my self learning and not a trade recommendation of any manner. If you chose to trade using this information, please do it at your own risk.