Support Seen at 4980 for Trading

Nifty October futures opened at 4930 levels and after making initial low at 4900.30 levels, Nifty October futures showed good recovery and made high at 5047.55 levels. Nifty October futures closed in green at 5030.15 levels with 87.2 points gains and increase in open interest.
Clearly, long build-up was seen in Nifty October futures on Thursday. Nifty Oct future closed with 14.7 points premium. On Thursday, short-covering was seen and long build-up was. Long positions were made on Wednesday in the Nifty. F&O data suggest that the Nifty may find resistance near5170- 5230 levels, and on the downside 4900-4800 may provide a good support to market. Volatility may be seen in the 4800-5230 zone for next few days. The Nifty also has important support zone in 4910-4900 levels, and on upside, the Nifty has resistance in 5060-5170-5230 zone. Today we can go long  @ 4980 level and in dips  4900 must be strict Stoploss. Market must reach 5230-5325 before another leg of correction.  SGX in  41 point minus While posting.