Market may witness lackluster trades

The mood of the market is expected to remain positive on the back of gains in the US markets and positive Asian indices in current trades which also help the local indices advance further. However, presence of intra-day volatility due to lack of clarity may see the market remain edgy. Among the indices, the Nifty could test higher levels around 4550 and 4620 while on the downside the index has a strong support at 4450-4410 levels. The Sensex has a likely support at 14900 and may face resistance at 15850.

US indices gained marginally on Tuesday on expectations of rate cuts in Fed meeting next week. While the Dow Jones gained by 181 points at 13308, the Nasdaq added 38 points to close at 2597.

Crude oil prices in the global market extended their upward trend, with the Nymex light crude oil for October series moved up by 74 cents a barrel at $78.23. In the commodity space, the Comex gold for December delivery jumped by $8.90 to settle at $721.10 a troy ounce.