As I mentioned in my weekly Nifty post that if Nifty will sustain below 12290 then I may take short position.
Today with NF broke 12300 level and closed below that. Now Very strong @ 12000-12050.
Now in any case If Nifty will come to 12270-12300 then i may take a short position.
If NF will sustain below 12225 then I may take a short position.
It will fill the gap near 12050 in coming days.
If fall will very sharp the recover will be sharp also.
NF may make a new bottom above 11965. Most likely in the 12000-50 zone.
This view is valied if 11965 level will not break.