Maybe we are at the beginning of a downtrend. Until the pattern unfolds, the best way to trade is to do only intraday without carrying positions overnight. As per this wave counting, wave 3 should fall at least up to 16700 (equal to the length of wave 1). If wave 3 extends, it can go to 16350 (1.23 of wave 1) or 15800 (1.618 of wave 1). I'll be trading predominantly intraday in the shorter time frames.