Overall, the market has seen huge downside. Before this recent downtrend, we had predicted the volatility to move high and this is very much visible in the markets now.
Overall, the volatility is likely to play its role over next few days. Nifty has broken crucial level of 5700 spot levels also.
Target of 5580-5450 spot from current levels is not denied.
Remember, shorting at current levels is not likely to fetch you much returns especially in case of a bounce before the possible fall.