Nifty Update for May 15 - Inder Bhatia

The Indian market opened with a huge down gap due to weak global cues and closed in the negative zone. For the coming session we could see “Make or Break" day. If Nifty trades below 3530 it could test 3350. On the upper side trading above 3684 zone it can test 3730-3750.

C Down Wave Starts in Nifty Future - Rakesh Chandra

The market has taken support from A and went up to B high in 2 days . The 3rd is a reversal day and as expected a C down wave is on the cards. The length of the C wave will be more than A wave.

Please note that we are in a bull market correction so avoid shorting on the lower side. The strategy should be to cover on the lower side and sell on the higher side. The recovery will always come as this is the usual tendency of the corrective wave.

Overall there will be chaos as the market always discounts events. There is uncertaintiy on the political front and chances of a hung parliament. Each day a new statement is issued by political players.

With stop loss 3,642 short Nifty Future below 3,628.06 for next day lower target >3,605 >>3,567 >>>3,544.