Nifty will go on to hit atleast 4525, where it will face resistence, and above it tgts for he day is 4563-4595. After moving so hard for so many days, nifty might take some rest today, and may trade flat, which wouldn't mean tht you can short it yet for positional
for any intraday weakness, nifty has to break 4460 levels, below tht nifty can fall straight to 4400 fut level.
for positional view, nifty is still very strng, and a closing above 4525 level, can take nifty up to 4640-4710 levels.
i personally feel, next downwave will come once nifty hits 4710 and the fall could be up to 4000 levels.
i personally dont feel nifty will break 4000 levels in the medium term.
