The BSE Sensex, crossed another milestone as the index scaled past the 15,000-mark during mid-noon trades on Friday. While the index took as much 144 days, (5th slowest 1,000 point gain for the index), the fact of the matter remains that it did so after having been written-off by most experts following the February peak.Just for the record, the Sensex began this fiscal on an extremely bearish note with a 617 point loss to end the day at 12,455. From there till date, (i.e. in the next 65-day trading session) the index has gained a whopping 20 per cent (2,509 points) as of last Friday.Back with the current trend, the Sensex may continue to rally, however, the markets are likely to be very volatile next week as the earnings season rolls out.Last week, as expected the Sensex rallied to 15,000, and failure to close above the mark should not be a worry as of now. The index finally ended the week with a gain of 314 points at 14,964. The next significant target for the index would be at 15,500-15,750. This week, the Sensex may face some resistance around the 15,100-15,150 region.On the downside, the 14,735 level should act as an support area, below which the index could drop to 14,200-14,370. The Nifty, too, claimed a minor feat as the index zoomed past the 4400-mark to a high of 4411.The index eventually ended the week with a gain of 67 points at 4385.While the short-term target for the Nifty remains at 4520, the index is likely to face stiff resistance around the 4420-4450 range this week. On the downside, the index may find support around 4320-4340.The CNX 100 index, which gained 58 points last week to settle at 4307, may move in the range of 4250-4360. Above 4360, the index may spurt to 4410. Whereas, the 4100-mark on the downside, will continue to remain the major support.The CNXIT index was up 48 points last week, thanks solely to a 158-point surge on Friday. The index if it crosses 5300, could move up to the resistance zone of 5385-5430. The current trend for the index remains down as long as the index stays below 5430.
