End of the bull market or is it just a correction before another rally ?

Last week showed a positive candle after being in negative territory in the first half of the week. A nice little bullish reversal. 

But that celebration was short lived as market slipped into red last day.

It seems yesterday 120 points crash in Nifty is starting long decline phase 
The Relative Strength Indicator  looks to set up a triple bearish divergence on this next high. That should lead to a significant decline. That is still to be confirmed obviously. Let’s wait and see.

The RSI and MACD indicator continue to show the extremes at which this market is trading. A significant decline seems inevitable. Even though price has moved higher this month, we can see there has been some movement away from the upper Bollinger Band. This looks ominous. Perhaps price has a crack at attaining the upper band once again at the beginning of October.

We’ll just have to wait and see if things pan out like this. If it does, the next question will be is that the end of the bull market or is it just a correction before another rally further down the track breaks to new highs? 

Nifty new long position is not recommended at current level. 

For sellers below 8010 will be an ideal level to entry in short positions