Upmove may continue

The strong Asian markets and presence of strong bullish sentiment may also help the local indices remain positive. However, the market is expected to remain volatile during intra-day trades. Among the key domestic indices, the Nifty could test 4385 - 4420 on the upside and has a support at 4315- 4280. The Sensex has a likely support at 14700 and may face resistance at 15100.

US indices finished higher on Tuesday as the Federal Reserve suggested it was not panicked about recent credit market woes. with the Dow Jones gaining 36 points to close at 13504 and the Nasdaq to end 14 points higher at 2562.

While the Nymex light crude oil for September series gained by 36 cents at $72.42 per barrel. In the commodity space, the Comex gold for December delivery slipped by a dollar to settle at $682.30 a troy ounce.