Nifty can soon start it's up move. It'll break the black horizontal line and start going up. However, the count in the Bank Nifty is clearer, so an entry based on Bank Nifty would be a better idea. (The link for Bank Nifty is attached).
Nifty should soon resume it's up move from one of the Fib levels.
Nifty looks good for an upmove till it holds 7670 on closing basis