After witnessing smart rally for last couple of days, Nifty erased some of the gains amid profit booking. Thursday`s session will be influenced by result outcome of Bajaj auto and HDFC bank. Global developments pertaining to US economic data of jobless claims and housing and inflation data will also influence markets sentiments. Downside support exist at 4,900-4,870 and then 4,830/4,840. Nifty has a psychological resistance at 5000 and on the downside supports are placed at 4,905.
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