Mumbai and Chennai want 5 and 4 players retained, respectively. Punjab and Rajasthan (I believe Delhi also) does not want any retentions or 'Right to Match'. Kolkata does not want retentions, but wants 5 'Right to Match' cards. Hyderabad and Bangalore want 3 retentions and 2 Right to Match.
Seeing the pattern, I think Hyderabad and Bangalore's choices could be the way forward (i.e. 3 retentions and 2 RTM). Retaining 5 players is too much, but wont be surprised if Mumbai get their way. I don't agree with teams that say they do not want any retentions. Its unfortunate that these teams did not work well enough to build good amount of connect between the players and fans. Teams like Mumbai, Chennai, Bangalore, Kolkata and Hyderabad have done well to do that. Starting from scratch all over again constantly is not good and dilutes the fan base and disconnects fans from the team in most cases.