Many people are hoping for a deeper correction in Nifty. If 5 waves were up and complete [or if they are with a truncated 5th], we can anticipate something like this. US does count 5 waves on the Dow or Nasdaq. Asian markets have seen a correction after a 5 wave rally. But the 5 wave advance means the market is bullish overall. Brazil has not only seen a correction but resumed its uptrend in a larger wave 3 [circled], and in the coming months it should carry the market back to above the wvae 1 high and eventually to new all time highs.