We consider the low energy effective action corresponding to the 1-loop, planar, dilatation operator in the scalar sector of 𝒩 = 4 SU(N) SYM theory. For a general class of non-holomorphic ``long'' operators, of bare dimension L >> 1, it is a sigma model action with 8-dimensional target space and agrees with a limit of the phase-space string sigma model action describing generic fast-moving strings in the S5part of AdS5 × S5. The limit of the string action is taken in a way that allows for a systematic expansion to higher orders in the effective coupling tilde lambda = λ/L2. This extends previous work on rigid rotating strings in S5(dual to operators in the SU(3) sector of the dilatation operator) to the case when string oscillations or pulsations in S5are allowed. We establish a map between the profile of the leading order string solution and the structure of the corresponding coherent, ``locally BPS'', SYM scalar operator. As an application, we explicitly determine the form of the non-holomorphic operators dual to the pulsating strings. Using action-angle variables, we also directly compute the energy of pulsating solutions, simplifying previous treatments.