Upmove may continue

The market is likely to stay firm on overnight gains in US markets and the encouraging advance estimates from Central Statistical Organization. Further increasing FII fund inflows may boost the sentiment. However, weak Asian indices in morning trades may put pressure on domestic indices. The Nifty could test higher levels between 4250 and 4280 and may dip around 4180, while the Sensex has a likely support at 14580 and may face resistance at 14720

US indices ended firm on Wednesday, with the Nasdaq gaining by 19 points to close at 2491 and Dow Jones ended 0.56 points higher at 12667

Indian ADRs had a mixed outing on the US bourses. Infosys soared over 3% and ICICI Bank jumped 2.49% while Satyam, Wipro, HDFC Bank, Rediff were up around 1-2% each. However Dr Reddy's, Tata Motors,MTNL and Patni Computers ended in the red with steady losses.

Crude oil prices in dipped further, with the Nymex light crude oil for March delivery slipped by $1.17 at $57.71 a barrel. In the commodity segment, the Comex gold for April series dipped $1.40 to settle at $657.30 an ounce.