Nifty has a near-perfect short-term reversal setup, with minimal risk and great reward, with an almost 1:5 risk-reward ratio. Keep in mind the overall trend is still bullish, just a short pullback in an overall bullish trend.
Exercise caution before taking any trades. This is just for educational purposes. I may act on my analysis and may have a personal interest, though, at the time of posting this, I have no open positions in Nifty Futures or Options. Consult with your financial advisor before taking any trades.