So the inducing magnetic field points upwards since the field travel south to north in a magnet. The inducing magnetic flux also increases as it heads towards the coil. According to Lenz's Law, the direction of the induced current is such that its magnetic field opposes the change in the magnetic flux that created it.
So I say the induced magnetic flux will travels downwards. As a result the induced current, will travel clockwise.
So who is correct? Is there any misconception from my part? Because my reasoning seems valid to me. Please