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Nifty moving in tight range of 4760-4950 which is good for traders,they can make profits in both sides.Investors don't panic and cut your positions,when caught in wrong trade.See today's and yesterdays market.New investment is not adviced in this level,sell or rally like yesterdays and cover short like today's and go light at end of the day.
In this narrow market don't go for Strategies like SYNTHETIC LONG CALL(buy stock and Buying put)or PROTECTIVE CALL /SYNTHETIC LONG PUT.Can do for intra day trades only because premium is too high in stocks as well as NIFTY.

Lets check WEEKLY CHART OF NIFTY given below

In chart there is three moving average lines (5,10,26 )when ever both 5 & 10 moving average cross over 26 DMA upper or lower side market given a big correction ,Please see chart area with arrow mark .Now look at current nifty position 26 DMA(Daily moving average) is flat and 5 & 10 DMA moving down but didn't cross downwards,market waiting for this to happen,So please wait BEARSs and BULLS.

Another Indicator ADX also showing trend is strong.