Waves are Tricky to understand, but B Waves are the most tricky of the lot.
It gives a false hope to the investors & they get trapped .
Current Situation in Nifty - After the current rapid fall in nifty from the recent highs of 12152, it seems Wave A is completed around 8055/8360. (7520 - an emotional down wave). From these levels we have started a slow rise, which is B Wave. B Wave will have 2 parts in it, the First part might get completed near abouts 9570/9670 & then a fall towards 8900/8700/8300, from there it may rise again to the levels of (hold your breath) 11500.
This seems a flat wave correction & generally in flat wave, B Wave tends to rise upto around 78% of A Wave, which conincides with the gap around 11400-11500.
All this correction might complete around august end or September mid week.
From there we will start another Glorious fast rally.