The market is likely to head higher, and test all time high in the coming week, as buying is likely to continue at higher levels, led by robust set of results from India Inc

The BSE Sensex settled above the 14,300 level at 14,303.41 on Friday, and is likely to test it's all time high of 14,723.88 struck on 9 February 2007. Technically it has given a break-out above 14,300 and is likely to face next resistance in the range of 14384-14479. While strong support exists 14160 and 14100 levels.

Similarly, the S&P CNX Nifty also breached a major hurdle of 4200 and is eyeing all time high of 4245.30. It has resistance in range of 4245-4280, while support exists at 4,180 and 4,120 range.

With liquidity remaining abundant with both domestic and overseas investors turning bullish, the market is likely to test all time highs

Inflation which has been a concern in the past few weeks, seems to coming in cooling. These will boost the sentiment further. The Reserve Bank of India (RBI) Governor Y V Reddy has kept inflation target of 4.0-4.5% for the medium term.

Also the progress of the June-September monsoon will hold the key to the direction of the domestic bourses. The Indian meteorological department forecasted annual monsoon rains would arrive in Kerala on 24 May 2007. The weather office said last month that this year's monsoon rains were likely to be 95% of the long-term average, with a 5% margin of error. The annual monsoon is vital for India's economic health as it provides the main source of water for agriculture, which generates more than a fifth of gross domestic product (GDP).

On the flip side, brent crude oil prices advanced to strike a fresh eight-month high above $70 a barrel, as US refinery problems fanned concerns about potential gasoline supply bottlenecks just before the summer-driving season begins. Any sharp rise from this levels, may dampen the sentiment.

Jindal Steel & Power, Steel Authority of India, Bank of India, Bharat Forge, Punjab National Bank, NIIT Technologies, Bombay Dyeing, BPCL, ITC, Godrej Industries and Bank of Baroda are the major results to be unveiled in the coming week.

Torrent Pharmaceuticals, Alembic, Gokaldas Exports, TV Today Network, Punjab Tractors, New Delhi Television, Divi's Laboratories, Monsanto India, Adani Enterprises, Orbit Corporation, Parsvnath Developers, Everest Kanto Cylinder and City Union Bank will also declare their results in the next week