After Breaking 23Nov Low of 17216 Nifty seems to be in a mood of making double correction and correct till 16110 so as to complete ((4)) black.
However Since ((w)) and ((x)) Blue connector seems small their is possibility of making a bounce to form a new connector. If it happens than will revisit the wave count so as to get the next New level for entry at ((4)) completion and carry position to en-cash wave ((5)) in Black.
This view supported by Dollar index move expected to make one more leg High before completing its 5 move up which started form 21 May, and than turning down .
Will be Long Nifty in range 16110 - 15733 with stop loss 15252 for Target of 19000 +