Positive bias may continue

The decent earning numbers reported by Reliance, Ranbaxy, Tech Mahindra and strong fund inflows in the last few sessions likely to persist the bullish sentiment. However, weak US markets and Asian indices in morning trades may put pressure on the domestic indices. The Nifty could test higher levels between 4140 and 4200 and may dip around 4040, while the Sensex has a likely support at 14100 and may face resistance at 14325.

US indices ended weak on Thursday amid worries about the strength of technology earnings in the fourth quarter. While the Dow Jones dropped by 9 points to close at 12568, the Nasdaq ended 36 points lower at 2443.

Most of the Indian ADR closed in the red on the US bourses. Rediff fell sharply and tumbled over 6% , Wipro lost 3% and Infosys, Satyam and HDFC Bank declined over 2% each while VSNL and Dr Reddy's ended with marginal gains.

Crude oil prices sipped further. The Nymex light crude oil for February delivery slipped $1.76 to close at $50.48. In the commodity space, the Comex gold for February series declined $5.20 to settle at $628.10 a troy ounce.