Nifty sluggish

Todays cut came in at 2 in the afternoon & came with heavy volumes. The charts were recovering for the nifty however todays fall again took it below the 200 dma, thereby making it weak. FII's have started to short the market again. Yest the shorts were to the tune of 1600 cr, and in all probability todays cash selling was done by them. Vix rose by 13%, which is always bad. Hence now if nifty falls the fall should be a hard one...Next target of recovery would be 4775 thereabouts and further weakness would continue if we dont trade above 5050. I have initiated short positions, with a stop loss of 5050.