Market may remain choppy

The south-bound trend in the market is likely to continue on the back of a weak global indices. Most of the Asian indices have paired their early gains and currently treading in the red which may further dampen the investors' sentiment. On the positive front FIIs remained net buyers of stocks for last few sessions. Among the key domestic indices, the Nifty may test 5800 on the downside while on the upside the index could test higher levels of 6000. The Sensex has a likely support at 19500 and may face resistance at 20500.

US indices staged a late rally to finish higher on Friday, as investors closely eyed corporate earnings and attempted to gauge the Federal Reserve's next step. The Dow Jones rose to 13177, up 67 points, while the Nasdaq moved up by 19 points to close at 2637.

Most of the Indian ADRs had a field day on the US bourses. VSNL was the major gainer and surged over 8% while MTNL, Wipro, Dr Reddy's, Tata Motors, Infosys, Satyam and HDFC Bank gained over 1-6% each.

International crude oil prices gained marginally, with the Nymex light crude oil for December delivery moved up by $1.67 to close at $95.10 per barrel. In the commodity space, the Comex gold for December series slipped by 30 cents to settle at $787 a troy ounce.