Last week Nifty moved in the zone between 4841-5100 , Nifty has retraced at 61.8 % (5100) of last fall. 4840-4800 will be providing support and 4920 and 4970 will be the resistance.
We can expect whipsaw moves daily in this week as daily some data's are getting announced in this week ( IIP Number , Inflation Number , RBI's monetary reviews in India and FOMC meeting in US ) so trade cautiously with strict stop losses.
For Monday those who bought at 4860 as per previous post can hold with the stop loss of 4830 for the target of 4920 and 4970.
All levels are based on Spot.
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