Flat to positive opening

The market is likely to remain volatile ahead of derivatives expiry for June series and weak global markets may put pressure on domestic indices in early trades. However, presence of strong bullish sentiment may help the market to turn positive. The Nifty could test higher levels at 4280 and may dip around 4200, while the Sensex has a likely support at 14200 and may face resistance at 14450.

US indices finished on a flat note on Tuesday. While the Dow Jones ended in a negative at 8323 declined by 16 points, the Nasdaq down by 2 points at 1765.

Indian floats trading on the US bourses were traded mixed. MTNL was the lead performer and soared 3.99% while Dr Reddy rose over 2.23%. VSNL, Infosys, Wipro and Tata Motors ended up each. However, Satyam, ICICI Bank, HDFC Bank, Rediff, and Patni Computers ended with steady losses.

Crude oil prices inched higher in the US market, with the Nymex light crude oil for June delivery adding $1.74 to close at $69.24 a barrel. In the commodity space, the Comex gold for August series rises $3.30 to settle at $924.30.