International BusinessTech view: Nifty support at 4,825
The markets yesterday witnessed typical derivatives expiry session, as stocks and indices swung between zones ahead of settlement. After rallying to a high of 16,525 in morning trades, concerns on higher food inflation and expiry pressure saw the Sensex tumble into red to a low of 16,182. The Sensex finally ended with a marginal (17 points) gain at 16,307.
In the process, the index not only broke its six-day losing streak, but has also taken support at the weekly S3 level, which is placed at 16,175. One can expect the index to find support around these levels today as well, unless there is any major negative news flow from the RBI front.