Nifty may Trade in 4900-5110 Range

The Nifty has entered the expiry week on a sluggish note due to the global turmoil backed with domestic negative news flow but witnessed a sharp pullback from the recent low of 4,760 with positive momentum and good volume participation.
The market is flirting around its weekly VWAP of 4,972, but trading well above its monthly VWAP indicating positive bias for the market. The September series remained volatile with a zig-zag move
Activity on the options side is very high with PE option writing in strike of 4800, suggesting that unless & until market holding this levels on closing basis northward journey can be expected.