Market may move sideways

The presence of a sharp intra-day volatile trend due to lack of clarity may see the market remain edgy and move on the either side of the zone. Mixed fund inflows into the domestic equities and the global market trend will be closely monitored for further direction. The Sensex swung over 180 points during intra-day trades and shed 0.14% at the close on Monday across-the-board selling pressure which may keep the investors cautious. Among the key local indices, the Nifty has good support around 4100 and upside till 4176-4182 levels. The Sensex has a likely support at 13900 and may face resistance at 14300.

US indices ended mixed Monday, giving up most of the day's gains, with investors showing reluctance amid rising Treasury yields, higher oil prices and jitters at the start of a busy week of economic news. The Dow ended marginally up at 13425 , while the tech-laden Nasdaq declined to close a point lower at 2572.

Crude oil prices in the international market edged higher, with the Nymex light crude oil for July delivery rose by $1.21 to close at $65.97 per barrel. In the commodity space, the Comex gold for August series gained $8.70 to settle at $659 a troy ounce.