The Nifty index has been consistently reaching new highs, but our team at Damis Investments anticipates a potential short-term decline due to the fact that this upward momentum is primarily driven by news. In order to support our bearish stance, we would like to share with you the specific levels at which one can take a short position. According to our analysis, the key resistance levels for the Nifty spot index are situated within the range of 17700-17800 and 17950-18050. We recommend initiating a short position within this range, with a target of 17400-17300 and a tight stoploss at 18200. We believe that this carefully crafted strategy will yield a favorable outcome in the prevailing market conditions.