Nifty has been moving in a descending channel forming 3 VCP. A breakdown could prove fatal and unfortunately chances for a break down are more. Watch out for very strict breakdown below 14250 because MACD is already weak and it could trigger a bigger fall.
The bullish divergence could see a minor pullback but under the situation don't construe it as a recovery. It could just be that pull back before the fall.
I would suggest fresh entries only above a good closing over 14950.
For all the charts I have posted, please revise your stop loss based on your risk appetite.