EWA suggests that Nifty is in a Strong uptrend and though the short term is a shallow correction at the end of Wave 3. The final target is 8450 atleast. Any correction towards 8150-8180 zone should be a buying zone.
The Correction Wave A is in progress. Traders should be wary of buying into the market as they could be caught off guard by Wave B which can be swiftly reversed.