``After yesterday`s stupendous rally, today markets are expected to open on a soft note and on higher side, Nifty will face stiff resistance around 4,950 levels. However, if Nifty breaches 4,950 and sustains above that then another round of short covering rally is expected that may drive Nifty towards 5,050-5,100 level in short term,`` said the broking house Way2Wealth Securities.
Markets may open on a soft note: