Market may remain volatile

The market may witness a cautious trend as US indices ended marginally up yesterday and Asian indices are exhibiting a weak trend in the morning trades. Investors should maintain caution as profit taking at higher levels may pull down the market. Among the local indices, the Nifty could test 4500 and 4450 on the downside while on the upper side it may move up to 4580. The Sensex has a likely support at 15120 and may face resistance at 15450.





US indices ended positive on Thursday. The Dow Jones gained by 58 points to close at 12142 while the Nasdaq ended ten points higher at 2404.





Most of the Indian ADRs trading on the US bourses closed in the green. ICICI Bank led the pack with gains of over 8.12% followed by Tata Motors and Satyam both of which gained above 5%. Wipro, HDFC Bank, Infosys, Dr Reddy's and Rediff gained over 1-2% each. However, MTNL, VSNL and Patni Computer eased marginally.





Crude oil prices in the US markets moved up marginally, with the Nymex light crude oil for June delivery moving down by 36 cents to close at $136.74 a barrel. In the Commodity segment, the Comex gold for August series lost $872 to settle at $873 a troy ounce.