Upmove may continue

The Dow industrials recording the gains for an eighth straight session on Tuesday, the longest winning streak in four years and firm Asian indices in the morning trades may help the market to open in the green. Major Asian indices like Nikkei, Hang Seng, Kospi and Jakarta Composite are trading with the marginal gains. On the upside, the Nifty could test the recent high around the 3900 level and may witness support around the 3775 level. The Sensex has a likely support at 13050 and may test higher levels of 13250.

In the US markets, the broader Dow Jones scaled up by five points at 12574, and the tech-heavy Nasdaq moved up by eight points to close at 2476.

Indian floats also gained on the US bourses. Tata Motors was the major gainer and rose 1.57% while Wipro, Patni, Rediff, HDFC Bank, ICICI Bank and ended with steady gains. Among the laggards Infosysys, Satyam , Dr Reddys's and MTNL were slightly down.

Crude oil prices in the global market rose yesterday. The Nymex light crude oil for May series gained 38 cents at $61.89 per barrel. In the commodity segment, the Comex gold for June delivery jumped $4.60 to settle at $681.50 an ounce.