Nifty Update

Our Nifty Short at 5920 has yielded almost 200points with the markets crashing today from its intra high of 5900 to sub 5720 levels. Our short tgt of 5450-5500 still remains intact. However, one may now shift the stop loss from 6070 to 5890 where the major resistance for the nifty now stands. One witnessed huge open interest build up in 5900 & 5800 calls implying resistance there coupled with the fact that the markets broke down after trying to cross the 5900-5920 levels more than a couple of times. Momentum has shifted to the downside.
 Enjoy the shorts!!!