Nifty signs fo profit booking

Nifty futures @ 6040 are giving many signs of profit booking. Also the level of 6080 is crucial to hold for any upside.

Signs to book profit:

1. Nifty futures 50 DMA at 6087 levels. Nifty showing weakness at these indicates more selling can be expected if 6000 levels are violated.

2. The 6100 is the 61.8% retracement level of the recent fall. The bounce generally reverses from these or 76.4% levels.

3. Divergence on hourly charts with a possible completion of 5 wave up. I am saying possible as I do not rely much on elliot waves.

4. Nifty closing below the support MA on hourly charts. Attached is the chart.

There is only partial sell signal in system so we can still wait for proper signal if need be.
P.S. We are 50% long from 5915 levels. The first 50% was done at 6010 levels.