There are a few things to tweak here.
It looks like you want to keep reversing user input until the input is 'end'
A simpler way to do that would be:
while True: # to set the loop going
line = raw_input()
if line == 'end': break # to exit the loop
Following this, if the input is not 'end', you default to your reversal code:
print line[::-1] # notice the indentation
which is slick indexing.
If you want to save the reversed string, that's a different matter, but it's not clear that you want to do that.
This doesn't deal with a string having 'end' at the end . . . is that an essential part of this? Because it doesn't seem necessary to me.
If 'end' is always there (with or without the while loop):
line = raw_input()
print line[-5::-1]
which will reverse the whole thing, but will carve 'end' off the end first.
If this doesn't help, can you give some more information about what you want to achieve?