RESISTANCE ZONE

Markets after consolidating in 4800 zone is now pearched at 4900 ,leaving SUB 4700 zone way behind..it would like to consolidate here to make sense of this upmove..FII's are covering shorts and buying select in cash..4900 (+/- 50 points) is the range right now..Only move above 4950 may trigger more short covering for a ride above 5000 & more ..supports lie in 4830-50 zone for the time being..Trade accordingly..cheers