Market may gain further

Strong bullish sentiment, decent earnings numbers reported by number of domestic companies and strong fund inflows in the last few sessions may help the market to resume on a positive note. The market is also likely to take cues from the firm Asian indices in morning trades and is expected to remain volatile during intra-day trades. Among the indices, the Nifty could target the higher levels around 4300 while on the downside it may slide to 4245. The Sensex has a likely support at 14000 and may face resistance at 14600.

US indices closed mixed on Tuesday with Nasdaq composite ending at a new six-year high, but gains were limited by hesitation after the recent run and the ongoing trade talks between Treasury Secretary and Chinese officials. While the Dow Jones dropped three points at 13540, the Nasdaq gained nine points to close at 2588.

Other than ICICI Bank, Patni Computers, Dr Reddy's Lab and Wipro, rest of the Indian floats gained on the US bourses. Infosys, Satyam, Tata Motors, HDFC Bank, MTNL and VSNL were up around 1-4% each.

Crude oil prices slipped further, with the Nymex light crude oil shed $1.30 at $64.97 per barrel. In the metals segment, the Comex gold for June series slumped $3.90 to settle at $659.90 an ounce.