Nifty Update for May 6 - Inder Bhatia

The Indian market opened on a flat note and traded in a narrow range. On daily chart Nifty has formed a doji which suggest indecisiveness at current levels. Market is now trading in an overbought zone and a correction cannot be ruled out. If nifty trades above 3672 it could test 3703-3735 zone and if it trades below 3644 it will test 3608-3572.