Upside is capped: Mohit Gaba

The Nifty traded in a narrow band for most of the session, taking support from 5215 levels it started to move higher post mid day. It went and touched the high of Wednesday before closing 10 odd points in the green.

The Nifty has traded in a narrow 45 point band for the last 2 days and a break out from either side should be traded. Yesterday was a big event day in euro and I think that will decide which side we break out. I personally feel the upside is capped and the question is should I short now or wait for a bit of a rally to short the market.