Market may remain edgy

The market is likely to extend its losing streak as the sentiment remains bearish with a sharp bout of volatility expected during intra-day trades. The Nifty has a critical support at 3850 and below that level support is at 3820 or 3800. while the Sensex has a likely support at 13336 and resistance at 13570.

US indices on Wednesday registered gains with the Dow Jones closing firm above the level at 12442, up 26 points, while the Nasdaq moving up by 16 points to close at 2459.

Indian floats largely ended on a weak note. Dr Reddy dropped 2.91% while ICICI Bank, VSNL were down nearly 2% each. Infosys, Satyam, Wipro, MTNL and VSNL also faltered while MTNL and Rediff registered steady gains.

Crude oil prices in the US market slipped on Friday, with the Nymex light crude oil for February delivery falling by $1.62 to close at $54.02 a barrel. In the commodity space, the Comex gold for February series lost $1.60 to settle at $613.40 a troy ounce.

Hindustan Zinc, Infosys Technology, HDFC Bank, Jaiprakash Associates are expected to announce thier results.