That will depend on what global markets do. SPX is trading above the 50% retracement of the fall from 2105. Should it fall below 1960 levels then it will be a bearish reversal.
For Nifty the 50% retracement mark falls somewhere at 8090 levels. Any failure around these levels can drag the Index down back to 7660 levels on it 5th wave. Now wave 4 in progress.
I'm not a senior,but I scalp for 2-3rs profit..my daily target is 2-3rs only and volatile scrips give quick moves..so quick in-out is very much possible.