The Nifty is in prolonged uptrend which started back in August 2013. Currently it seems to be in 5th wave of this uptrend. This 5th wave may extend upto 9450-9500.
The 5th wave is subdividing and currently Nifty seems to be in lower degree (V)th wave of the larger degree 5th. This (V)th wave is further subdividing and currently Nifty seems to be in (iii)rd wave of the (V)th of 5th. Which is also subdividing. The (iii)rd wave of the (V)th of 5th may extend upto 9250-9300; after which Nifty may witness some correction before heading to 9450-9500.
Thanks & Regards,