Market may remain volatile

The market may witness cautious trend as US indices ended flat yesterday and Asian indices are exhibiting mix trends 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 3875 and 3850 on the downside while on the upper side it may move up to 3965. The Sensex has a likely support at 12935 and may face resistance at 13200.

US indices ended mixed on Thursday. While the Dow Jones gained by 73 points to close at 11289, the Nasdaq ended 6 point lower at 2245.

Crude prices surged Thursday to a new trading record near $146 a barrel as the summer maintenance season for the North Sea oil fields begins to squeeze European supplies. The Nymex light crude oil for August delivery adding $1.72 to close at $145.29 a barrel. In the commodity space, the Comex gold for August series declined $12.90 to settle at $933.60.