Nifty PreMarket View.

A sharp fall should attract some intra day buying which might meet some selling pressure. As long as the fall is limited to 4885-4900 zone in the coming days, another round of upmove is possible.
The immediate trend turns down with world cues, a close below 5077 will confirm it and a close below 5030 will bring some momentum.
Once again we will look for some divergences to reverse the short trades.
The swift traders may book shorts at the open and resell on intra bounces. If not, hold for lower levels.