Bias may remain cautious

After yesterday's flat close the market is likely to extend this trend in today's trades also. The negative to flat close in US markets and subdued Asian markets in current trades may weigh on investor sentiment. On the upside, the Nifty could test around the 4450 level and on breaching this level it may witness support around the 4410 level. The Sensex has a likely support at 15250 and may test higher levels of 15700.

US indices slipped on Wednesday, after a volatile session on the back of rising oil prices and falling U.S. dollar ahead of next week's Federal Reserve policy meeting. While the Dow Jones slipped 17 points at 13292, the Nasdaq was down five points at 2592.

Indian floats, also, bucked the weak US market trend and ended lower. Satyam Computer, ICICI Bank and Rediff lost over 1% each, while Wipro, Dr Reddy's, VSNL, & Patni computer also lost below 0.50% each, Infosya, Tata Motors, HDFC Bank and MTNL however, were the only gainers amongst the ADRs and gained around 0.50% to 1% respectively.

Global crude oil prices touched the record high of $80 on Wednesday, with the Nymex light crude oil for October series closed at $79.91 up $1.68 per barrel.