Slide may continue

Market may slide further on account of weak Asian markets in morning trades and overnight fall in the US markets. Surge in Crude oil Prices and continued selling pressure may also drag the domestic indices further down. The FIIs remained net sellers in equities for last couple of sessions may also weigh on the investors' sentiment. Key indices, the Nifty may get support at 4000 level and on the upside it could test higher levels at 4070. The Sensex has a likely support at 13,270 and may face resistance at 13,450.

US indices declined on Tuesday with the Dow Jones slipped marginally at 11055 down 45 points, while the Nasdaq lost 26 points to close at 2213.

Indian ADRs had a mixed outing on the US bourses. Among the major losers Wipro, Infosys, HDFC Bank, Satyam, Patni Computers, ICICI Bank and MTNL shed over 0.20-2% each. While, Dr Reddy's and Rediff gained marginally.

Crude oil prices gained marginally, with the Nymex light crude oil for August delivery moved up by 10 cents to close at $145.18 a barrel. In the commodity space, the Comex gold for August series gained $13.10 to settle at $973.70 a troy ounce.