Market may start buoyant

The benchmark indices, Sensex and Nifty, are expected to commence on a firm note and witness significant rally during intra-day trades, as international markets backed by firm US and Asian indices may help the sentiment remain buoyant. On the technical front, the Nifty could test in the 2700-2750 range on the upside and has supports in the 2600 - 2550 range, while the Sensex has a likely support at 8295 and may face resistance at 8600.

US indices posted gains on Wednesday on a report that China's economy may be improving and as government officials unveiled details of the $75 billion foreclosure fix. while the Nasdaq added 33 points to close at 1354 and Dowjones gained 150 points at 6876.

All of the Indian ADRs except satyam traded firm on the US bourses. Tata Motors led the pack with gains of 9.88% while Wipro, Rediff, Patni Computers, Infosys, VSNL, MTNL, HDFC Bank and Dr Reddy gained around 2-7% each.

Crude oil prices in the US market surged, with the Nymex light crude oil for April delivery raising by $3.72 to close at $45.38 per barrel . In the commodity segment, the Comex gold for April series lost $6.90 to settle at $906.70 a troy ounce.