50% of fibonnaci retracement levels from Nifty’s all time peak.
So to keep it short, anywhere around 3500 is possible for some time, till then keep you patience. If you are not able to keep your patience then go for systematic investment in indian markets,say 10% of investment for the next 10 days. Accumulate your favorite stocks in a systematic manner is a more intellient manner than buying stocks in one single go.Those who fear to buy stocks in this bear markets,i like to say that ” You tried buying at 6000 Nifty levels then what is the harm to try at 3600-3900 levels”. Almost all the stock prices are available at dead cheap prices which you never dreamt before. And it is wise to purschase low P/E stocks available at attractice price.