Market may remain volatile

Market may resume on a weak note as nervousness may prevail after yesterday's 150 points fall followed by mixed Asian markets in early trades. The interest rates move by The Bank of Japan may also weigh on local indices in the morning trades. FII's turning net buyers for last couple of sessions, fall in crude prices and overnight gains in the US markets may boost investors sentiment . However, intra-day volatility remains the major concern. Among the domestic indices, the Nifty may slip to 4100, while on the upside it could edge higher in the range 4150-4200. The Sensex has a likely support at 14200 and may face resistance at 14400.

US indices ended in the green on Wednesday. While the Dow Jones moved up by 19 points to close at 12787, the Nasdaq ended 17 points higher at 2513.

Most of the Indian ADRs ended in the red on the US bourses. MTNL slipped sharply and lost 2.4% followed by Tata Moters tumbled by 2.23% while, Satyam, VSNL, Rediff, Patni Computers closed with the marginal losses while Infosys, ICICI Bank and Dr Reddy's move up around 1% each.

U.S. crude oil prices fell on Tuesday amid expectations that milder Northeast weather may curb increasing oil demand. The Nymex light crude oil for March delivery slipped $1.32 to close at $58.07. In the commodity space, the Comex gold for April series moved down $11.80 to settle at $661 a troy ounce.