NIFTY Bearish scenario

Early view - if current rally from March 16 bottom is Wave B then it has retraced by 0.78%, If this is A-B-C correction then nifty should head for 16399 and/or 15127. This down rally can be fast.

Confirmation levels - 18000, 17800, 17550, intensity will increase at each confirmation.

Invalidation above 18500 and safe to assume that Wave B is still continuing.

Wave C are usually driven by surprise news and giving no time to react and adjust.
Use discretion!!