nifty is looking strong

from last two days nifty has crossed a major psychological level of 4775 and looks like heading for 4900 /4950 very soon.bears are just watching the moves very carefully to attack but are very cautious as they have been smashed a couple of times recently.bulls are having a upper hand right now.i feel one can take nifty option positions by buying 4900 ce sep and selling 5100 ce oct and buy 4700 pe sep and selling 4400pe[ratio should be 1:2 double of 4700 pe ] todays close of 4900 ce is 75 and 5100ce oct is 110 and 4700 pe 65 and 4400 pe is 14. if we execute the trade total cost would be 2 .[75 -110+65-28=2]. one has to be very alert while taking this positions once nifty crosses 4900 you have to square off 4900ce sep and create new fresh trades which will be updated later .