As per Elliot wave analysis, nifty has probably completed minor waves 3 & 4 of intermediate wave (3) of primary wave 3. (Have marked in the chart)
Today nifty should complete downward wave 5 (likely to end at support zone 19100 to 19150). Following which the intermediate wave (4) is likely to begin which can rally to 300 to 400 points.
Will update as nifty progresses. The market is always right!