There just no stopping the markets, as the key indices continue to touch new highs. A confident start right in the morning today pushed the Sensex up almost 200 points. Currently the Sensex is up 189 points at 15,281 while the Nifty is trading up 50 points at 4,496.

Global markets are also seeing a huge rally. The Dow Jones closed trade on Thursday up 284 points and the Nasdaq was up 50 points, Asian markets are also following suit in today's trade.

What do analysts expect this market to do, based on the strong global cues and ample liquidity in the system?

Anil Manghnani of Modern Shares & Stock Brokers, feels that the Sensex could cross the 15,300-15,600 levels in the coming days. For the Nifty, the target is 4,484 and one should watch out for that level, he added. According to Manghnani, the market can move without IT, as there are many other sectors that can propel this market forward. He expects participation from stocks like finance, petrochemicals, capital goods, and telecom

Vibhav Kapoor of IL&FS said that there's nothing negative on the horizon at this point in time, both in India and globally, which is pushing the markets into momentum stage. The first few quarterly results have been positive. There has been 30-40% growth from the banking sector, 30% growth from Infosys. So, early signs on corporate profitabilty have been positive.

According to him, markets are beginning to enter a euphoric phase, where there is concept buying. Some stocks multiples are about 40-50 times. Also, there are also the midcaps, where there is still scope for revaluation. But this is just the beginning and this could continue. So markets may be seen running to unreasonable levels.