Where are the markets heading for?

The last trading day saw a bit of correction downwards and Nifty broke its short term resistance line at 4463 on futures. Now the technical support lies at 4420 levels, where we can expect a sort of trading bounce of 200 points on the Nifty...... The ideal trade would be to wait for few minutes and see whether Nifty is consolidating or not. If Nifty bounces back and is able to cross 4460, then we can go long with a stop of 4420.......But what happens if this level is not maintained? In that scenario, wait for sometime and short Nifty at any pullback to 4420 with a stop of 4460......We can expect it to slide down till 4285-4250 levels.......Now which is more probable is very difficult to say.......One has to be alert and trades are possible on both sides.......But I personally feel that with crude, which is more likely to head towards 108-101 range, one can expect Nifty to bounce back......Now only Monday will tell what actually happens......