Market may remain positive

The current market sentiment is mainly driven by the movement in global indices. The mood of the market is expected to remain positive after robust advance tax payments from the leading companies and also help the market to advance further. However, after yesterday's biggest fall, the investors are advised to remain cautious as the market may turn volatile on account of profit bookings on higher levels in later part of the day. Among the indices, the Nifty could test higher levels around 6,000 while on the downside the index has a strong support at 5600. The Sensex has a likely support at 18,600 and may face resistance at 19,830.

US indices tanked on Monday as investors continued to worry about the economic outlook amid rising inflationary pressures. While the Dow Jones fell by 173 points at 13167, the Nasdaq slipped 61 points to close at 2574.

Crude oil prices in the global market eased further, with the Nymex light crude oil for January series slipped by 64 cents at $90.63 a barrel. In the commodity space, the Comex gold for February delivery moved up by $1.30 to settle at $798 a troy ounce.