At the end of last week, we summed up the analysis with the reading that more declines were likely. The market did not trouble us with uncertainty on that front at all. The minimum one was looking at was a retreat to test the March-May lows near 15,750 on the Nifty 50 – which was a few hundred points lower at that time. The market achieved those levels with a powerful gap-down on Monday that knocked the stuffing out of bulls. When th...