Market may remain edgy

A sharp rise in several Asian indices in the early trades may help the domestic indices rebound from lower levels. However, lack of clarity in the market and higher volatility may drag down the market. Among the indices, the Nifty could test higher levels at 3870 and has a supports at 3840 and 3792. The Sensex has a likely support at 13330 and may face resistance at 13500.

Indian ADRs were largely mixed on the US bourses. Rediff jumped nearly 9.64%, Satyam, ICICI Bank, Dr Reddy's and Patni Computers ended with modest gains. while VSNL, MTNL, Tata Motors, and Wipro ended with loss of around 1%. However, HDFC Bank slipped marginally.

Crude oil prices in the US market was marginally down, with the Nymex Light Crude oil for December delivery losing 45 cents to close at $55.81 a barrel. However, in the Commodity space, the Comex gold for December series dropped 40 cents to settle at $622.10.