Weak Asian indices indicate negative open

The market is likely to remain under pressure following the weak Asian indices in the ongoing trades. However, prevailing strong bullish sentiment may help the market to remain positive with a sideways movement during intra-day trades. Among the major domestic indices, the Nifty could test 4200 on the downside and faces resistance at 4325. The Sensex has a likely support at 14400 and test higher levels of 14600.

US indices posted modest gains on Thursday, helped by lower oil prices and a better-than-expected report from the manufacturing sector. The Dow Jones gained 56 points to close at 13546 after previous session slide and the Nasdaq ended 17 points higher at 2617.

Crude oil price slipped below the $69 a barrel, with the Nymex light crude oil for August series falling by 21 cents at $68.65 per barrel. In the commodity space, the Comex gold for August delivery slipped $5.80 to settle at $654.20 a troy ounce.