IS THERE A BOUCE BACK ON CARDS?

Markets Loses 5% From Diwali day Top In Just Six trading Sessions , Where is the Support ??

When Everyone on Street was Giving Bullish Commentary in Oct Last Week , I came up with a detailed Report Saying that Market will make a Top on Diwali Day (mahurat trading) And After that Sensex can correct 10% at least for 19K Tgts ..
Its been just Six Trading sessions Since Diwali day & We've fallen 5% without any big -ve trigger ... Sensex Today Touched 20,250 from Diwali day peak of 21,321 ...
I HAVE  SENT MAIL ON OCT 29 TH TO CLIENTS

http://trendzofmarket.blogspot.in/2013/11/will-history-repeat-itself-again-post.html 

Anyhow Now Everyone seems to be on panic mode , Although Selected midcaps are still outperforming but Bull market euphoria seems to be getting over day by day ...Now Question that comes to mind is when will market stop falling ??  Well Lets check chart now (As I'm a technical Analyst  :-D ) ...Last time (In Sept) When Sensex fell 5-6% It took supp at 50 dma & bounced , Now Again I'm betting that Sensex Should Take supp ard 50 dma which comes at 20150 Sensex levels , As shown in chart ... Trigger can be SBI results tomorrow , Who Knows , a +ve surprise from SBI tomorrow & PSU banks will be back in Action before u know it , Also with Thus (Moharram)  being a Holiday , Tomorrow Bears might look to book some Solid gains ahead of Long weekend (Vols Shud be Sluggish on friday)...I dont read much into Fii data but they are still buying in cash , Although they are selling double qty in Future segment ... So now Sensex 20150 / Nifty 5950-60 Spot shuld be levels one should look for trend reversal in market ... Bank nifty 10.3-10.4K is strong supp as well & Again Saying Sbi Results could be next big trigger for our market direction now ...Although  A Close below 20100 Sensex & 5950 Nifty spot will confirm that Down Trend will continue & Bulls will run for cover & Sensex will hit 19.5-19K very soon ..

Nifty is right above 50 dma i.e. 5974. But what is disturbing straight line of decline. Having said that, the market still has bullish structure which means Nifty continues to be BUY on declines. 
What does this mean?

Nifty is not yet ready to breakout to NEW HIGH but broader market looks good and one should look at stock specific activity. Keep an eye on support around 50 dma. A breach below 50 dma will be the first warning sign for bulls. Right now, the best strategy: Focus on individual stocks.

The 50 dma on Nifty is 5974