The rally from ~7950 to ~8950 has taken 50 bars / 75 days and the fall from ~8,950 to ~8,000 is in equal time cycle. Relative Strength Index
is trading at 2016 lows suggesting reversal on cards.
I am expecting the reversal to take place either today or tomorrow.
The setup would fail if Nifty
closes below 7,900. The major trend change level would be only above 8,600.