The markets yo-yo wildly through the day as bulls locked horns with profit booking. The Sensex swung a record 665 points through the day fueled by higher liquidity. It took a shy at 18,000 but ends 518 points higher at 17,847

So, how soon will the markets hit 18,000?

Anil Manghnani of Modern Shares & Stock Brokers said had the markets not been shut yesterday the Sensex could have touched 18,000.

“Things are happening so fast. I think 16,000 was hit a couple of Wednesday’s ago, we had 17,000 last Wednesday, and might even hit 18,000 today. If we weren’t shut yesterday, we would probably have hit 18,000 today. I think Wednesday is a lucky day for the market, 1,000-point every week on a weekly basis,” he added.

He feels the markets could touch 18,240 for the Sensex and then about 19,400-19,500.

Vibhav Kapoor of IL&FS feels the markets could touch 18,500-19,000 if the liquity driven momentum continues. He expects these levels to be breached not at one go but after a few corrections. "This is now a liquidity driven momentum market, so its difficult to say how much upside can be there in a market like this when there is so much momentum not only in India but also globally to some extent. As long as money keeps flowing in, one is going to see this rise continuing and it’s going to be difficult to put the figure to it. But the way the market has behaved in the past few days and weeks, one could be looking at even something like 18,500-19,000, maybe not at one go but maybe with a few corrections in between. I wouldn’t be surprised if the market were to go to that level."

Rajat Bose of rajatkbose.com feels the short-term uptrend would signal an end if the Nifty closes below 5,090. “We need to watch out whether the bulls are able to push up the market again further. It is not that the long-term uptrend is in danger but the short-term momentum uptrend that we have been witnessing for quite sometime is somewhat in danger. The Nifty should not be closing below 5,090 and if by any chance we see in a day or two the Nifty breaking 4,950, then we would have to say that the short-term uptrend has come to an end. My advice at this juncture to investors, who are sitting on profits, would be to book profits because this market looks quite a bit top heavy.”