Stop loss for nifty long below 5275. This is not the time to short trade now if you want to short, short but don't forget buy 5400 call option to protect you capital.
Book profit in all your long holding in nifty and stay away. If nifty closes above 5400 for 2 week then we will take buy else we will face one round of selling. Stop loss for Long blow 5275 and final stop loss below 5180.