Let me correct that we started this Series at 4700 so we have not run up 500points already.
I do NOT think so that this is a bull trap, we have been consolidating within the range of 4300-4700 for almost 3 months and a breakout cannot be of JUST 200-300 points. To add to this, US has broken all the resistance levels and so is other Asian markets. This is a call for global breakout and being in very healthy position India cannot left behind.
I see another rally in coming months at least till 5200-5300 before we go for another minor correction... 5000 will going to be a strong support line very soon