Caution should be maintained

After the broad-based national stock exchange Nifty hitting the all time high yesterday, buying interest can be seen in today's trades. However, caution should be exercised as the market may move in tandem with global indices. Except Nikkei index almost all the key Asian indices have lost ground in the ongoing trades. Investors should also take into account the prevalence of strong intra-day volatility. Among the key local indices, the Nifty in short term could test higher levels at 4300 while it has a support at 4245. The Sensex has a likely support at 14300 and may face resistance at 14500.