Trade with caution

The market is likely to remain volatile ahead of derivatives expiry for August series and weak global markets may put pressure on domestic indices in early trades. However, presence of strong bullish sentiment may help the market to turn positive. The Nifty could test higher levels at 4732 and may dip around 4620, while the Sensex has a likely support at 15560 and may face resistance at 16033.

US indices ended marginal positive on Wednesday as investors welcomed positive reports on housing and durables goods, but remained on the sidelines after pushing the market to 2009 highs in the previous session. The DowJones end 4 points higher at 9544 and the Nasdaq remained unchanged and close at 2024. Among the Indian ADRs ended mixed on the US bourses.

The Nymex light crude oil for September delivery lost 62 cents at $71.43 a barrel. In the commodity segment, the Comex gold for December series tumbled by 20 cents to settle at $945.80 an ounce.