Market may remain volatile

The market is likely to witness volatility as US & European market ended on positive side and major Asian gauges are trading in the mix and may fall further in early trades. Although the domestic indices moved up on Thursday, intra-day volatility remains the major concern. Among the local indices, the Nifty has a support at 3770 and intra-day it may target 3840. The Sensex has a likely support at 12800 and may face resistance at 13150.

In the US markets, blue chips ended higher on Thursday, as investors scooped up large-cap, defensive stocks, against a backdrop of mounting global tensions. The broader Dow Jones was up by 48 points at 12349 and the tech-heavy Nasdaq was gained marginally to close at 2418.

Among the Indian ADRs losers outnumbered gainers on the US bourses. However, Dr Reddy's gained by 3.52% and Rediff, ICICI Bank , Satyam gained around 1% each. Among the laggards Wipro, Infosys, Patni, VSNL and MTNL were down marginally.

Crude oil prices edged higher, with the Nymex light crude oil for May series rising by $1.95 to close at $66.03 a barrel. In the commodity segment, the Comex gold for June delivery tumbled $5.30 to settle at $667.60 a troy ounce.