Market may move sideways

The current market sentiment is mainly influenced by the movement in global indices. The mood of the market is expected to remain positive after Friday's surge and the gains in the US markets will also help the local indices advance further. However, subdued Asian indices in current trades may drag the market in early trades. Among the indices, the Nifty could test higher levels around 6010 and 6030 while on the downside the index has a strong support at 5895 and if broken then around 5775 level. The Sensex has a likely support at 19300 and may face resistance at 21000.

US indices had a flat end on Friday ahead of expected interest rate cut from the Federal Reserve. While the Dow Jones gained by six points at 13626, the Nasdaq slipped three points to close at 2706.

Crude oil prices in the global market extended their downward trend, with the Nymex light crude oil for January series slipping by $1.95 at $88.28 a barrel. In the commodity space, the Comex gold for February delivery moved down by $6.90 to settle at $807.10 a troy ounce.