Market may open positive

Positive close in US markets and firm Asian indices in morning trades may help the market open in the green. However, worries about FIIs remaining net sellers of equities in the domestic market may force the players to remain on the sidelines. The Nifty on the downside may dip to 2800 while on the upside it may test 2870. The Sensex has a likely support at 9150 and may face resistance at 9500.

US indices bounced back on Friday with the Dow Jones advanced by 69 points at 8281, the Nasdaq added 17 points to close at 1529.

Indian floats also gained in the US markets and ended higher. Satyam advanced 12.24%, Tata Motors gained 5.39% and VSNL raised by 3.92%. Infosys, ICICI Bank, HDFC Bank, MTNL, Patni Computer, Rediff and Dr Reddy's Labs closed with marginal gains while only Wipro declined by 0.14%.

Crude oil prices declined with Nymex light crude oil for February delivery lost 26 cents to close at $36.25 a barrel. In the commodity space, the Comex gold for March series rose by $32.60 to settle at $839.90 a troy ounce.