Expect a bounce back on Monday

Global markets had a smart recovery led by Dow Jones. Most of the market participants went short on Friday; strong global cues will result in gap up opening on Monday. Trapped short will fuel the momentum up. From IT sector-Mphasis is poised for further up move, Auto sector, Sugar Stocks may see a strong recovery. Bharat Forge , Andhra Sugar, Dharni Sugar , are showing strength on charts. If global cues remains favorable we may see Nifty scaling past 4731 and chances are it may retest 4800-4850 - a key resistance zone.