Market may exhibit caution

Weakness in the Asian indices and US indices closing on a firm note in the last session could make the investors jittery from taking any fresh position. Although the bias remains positive, investors should maintain caution as profit-taking at higher levels may pull down the market. On the technical front, the Nifty is likely to witness range-bound trading with a support around 4085 and a resistance around the 4220 level, while the Sensex has a support at 13800 and may face resistance at 14600.

US indices gained on Thursday closing with the record high on the back of upbeat earnings reported by some the blue-chip companies. While the Dow Jones rose by 16 points to close at 13105, the Nasdaq ended 7 points up at 2554.

Crude oil prices slipped in the last session. The Nymex light crude oil for June delivery fell by 78 cents to close at $65.06. In the commodity space, the Comex gold for June series declined $9.40 to settle at $678 a troy ounce.