EOD Nifty Daily Chart - 18th August, 2014

Nifty has finished a contracting Triangle f-leg at 7540.1 and thereafter started the g-leg up for the 2nd corrective. The limiting (expected) triangle targets are :
T1 - 7854.2 (Done)
T2 - 7958.9 
T3 -  8063.6
within about 8/9 days from 7540.1. The first target has been done. The next 2 targets, if to be done, has to be done in next 3/4 days.  Watchout for the above targets and the upper black trendline resistance. Market is highly OB symbolizing extreme bullishness but intraday sharp corrections cannot be ruled out. The highest correction during this upmove has been of 61.4 Points and the lowest has been 39.95 Points.  So, any fall of 39.95 - 61.4 points would have to be bought till bias remains positive and /or for next 3/4 days for the above targets.  Today was the 5th consecutive bull candle for Nifty Spot.