Have charted the course of Nifty for coming few days in Wave Structures as per my understanding.
It Seems we have completed the 3rd Wave on 20 March 2020 & now 4th Wave is going on, which might go up to 9200 Approx. From there we might have another opportunity to Short for a target of 7500 approx.
IMO, this bottom near 7500 would be a completion of Either WAVE 1 or WAVE A, which we will come to know after few days of the extent of the upmove in Wave 2 or WAVE B.
As per me, after a big move in the 3rd WAVE, generally the 4th move gives a time correction, so we might have a triangle correction in coming Weeks/Months.
Still this is a theory, we will be sure once we get new/relevant data for analysis in coming days/weeks.
Till then, It seems we might bottom out for the time being in coming days & can go long for upside targets of 9500 to 11000 around 7500 approx.