Are we completing wave C in Nifty

A truncated wave C is a situation where C=A was not achieved. At least C=61.8% of A so we are good enough. That the recent fall in Mid and Smallcap stocks was unable to get the Nifty bears to break a potential H&S structure is noteworthy. So, with many short-term and medium-term sentiment indicators near oversold extremes, it might be time to think about bounces ahead of Union budget 2025 even though budget expectations have to remain tempered down. The RSI is also at a higher level than we were at the end of wave A so we can develop a positive divergence in the indicator if we get a bottom here.