4910-492not0 ZONE is a support zone for nifty,looking at reversal patterns on daily-weekly charts of some pivotals,i think after some efforts to hold the levels,nifty should go down upto 4872 area,which is a very crucial level to watch.
This should be breached and MUST not be recovered too soon.
A big positive for bulls, is the strenth of dow/s&p weekly charts,i think my system will generate a buy call this week, even if us markets pull back somewhat at the end of current week.
As per my earlier post it/auto will be weak for some more time,their pull back may ultimately prove tobe only a consolidation phase on weekly charts, after a few weeks,but we will look a this possibilty later.
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