Has nifty bottomed out?

Well nifty didnot break the 8540 till now and according to the current wave analysis nifty might have bottomed out and should be looking for a new up trend or still looking to form a triangle as wave X and then wave Z. So may be some more range movement in nifty is possible If 8676 is not taken out. So get ready for an up move.
nifty50

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