The markets have not been available to sustain near the day's high's for the entire of last week. On Friday, they couldn't even bounce off the day low's. The trading range is shrinking - it will not be long before the markets break this range on the downside. The cues from SGX Nifty, point to a gap-down already - initiate aggressive shorts on opening and on any rise till 39156.
The SL for all short positions would be a close above 39200.