Sensex took a big knock on Tuesday, shedding as much as 415 points from the day's high to hit an intraday low of 16,502.91. While, Nifty closed below the 5000 level for the first time since January 18.
In international markets the US markets recovered more than half their losses, but still closed in negative territory as political uncertainty in Greece kept investors on edge. The Dow Jones recovered from a 198-point plunge, but it still logged a five-day losing streak, slumping 76.44 points.

The market unfolded weak as expected and saw the low at 4988 to recover and close positive for the day at 5114. Technically the up move still looks reactive in nature and the upside to 5180-5200 is not ruled out. Now it has a strong resistance at 5100 and a crucial support at 4900.

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