Market may turn positive on global cues

The market may take a break from its consecutive 3-session losses. Yesterday's turnaround after a steep fall and overnight gains in global markets coupled with strong Asian markets in the morning trades signals positive outlook. Also a further decline in global crude oil prices could help the sentiment remain positive. However, caution should be maintained as the market could exhibit volatility during intra-day trades. Among the domestic indices, the Nifty may slip to 4025, while on the upside it could edge higher in the range 4100-4210. The Sensex has a likely support at 13950 and may face resistance at 14250.

US indices ended in the green on Wednesday. While the Dow Jones jumped by 87 points to close at 12741, the Nasdaq ended 29 points higher at 2488.

All Indian ADRs ended in the green on the US bourses. MTNL rose sharply and gained 4% while, ICICI Bank, Satyam, VSNL, Tata Motors, Rediff, Patni Computers, Infosys and Dr Reddy's move up over 1-3% each.

Crude oil prices declined after moving up for the last few sessions. The Nymex light crude oil for March delivery slipped $1.06 to close at $59.06. In the commodity space, the Comex gold for April series moved up $3.50 to settle at $672 a troy ounce.