The rebound in oil prices and expectation of decent third quarter results coupled with strong Asian markets in the present trades may open the market on a positive note. The Nifty could test higher levels at 4140 and may find supports at 4060, while the Sensex has a likely support at 14070 and may face resistance at 14325.
US indices traded mixed on Friday amid not so inspiring results from blue chips and rebound of oil prices. While the Dow Jones slipped by 2 points at 12566, the Nasdaq gained 8 points to close at 2451.
Indian floats largely had a mixed outing on the US bourses. MTNL was the major gainer and rose 5.47% while VSNL, Rediff, HDFC Bank andICICI Bank ended with around 1% gains each. Among the laggards Satyam Computers slumped 6.06% and Wipro tumbled 2.33% and Tata Moters slipped 0.82%.
Crude oil prices in the overseas market gained, with the Nymex light crude oil for February series added $1.51 to close at $51.99 a barrel. In the commodity space, the Comex gold for February delivery jumped by $8.30 to settle at $636.40 an ounce.
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