Caution has to be maintained as expect a sharp intra-day volatility.
The market may witness cautious trend as US indices ended flat on Friday and Asian indices are exhibiting weak 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 3950 and 3900 on the downside while on the upper side it may move up to 4050. The Sensex has a likely support at 13000 and may face resistance at 3900.
US indices ended flat on Friday with the Dow Jones ended in a positive at 11143 advanced by 121 points, the Nasdaq down by 3 points at 2183. While all the Indian floats ended lower with the loss of 1-11% each.
U.S. crude declined further on Friday with the Nymex light crude oil for October delivery slipped $1.13 to close at $106.89 a barrel. In the commodity space, the Comex gold for December series gained $6.50 to settle at $888.50.
