You are never too late for going short in a falling mkt & you are never too late to go long in a rising mkt. It’s difficult to do. But most of the time you will end up with profit.
Now Indian mkt is consolidating in a broad range for too long while other international mkts (including US mkt) are in a mini upward rally. If that rally will fizzle out then the impact will be more on Indian mkt. Our mkt is facing huge resistance at higher levels. Lots of delivery based selling & long unwinding is happening at higher levels (with every rise). But the system is also saturated with large no of short positions. Election is also not far & the result session (Q3) is still going on. With every bit of positive or negative news mkt will move violently (extreme volatility).
Till the election is over exercise caution. Trade with lower volume (lots) & with strict stop loss.