The market is holding on to its gains. The Nifty is trading above the 6000 mark, at 6005, up 104 points form the previous close. Sensex is also trading well above the 20,000 mark at 20,123, up 285 points. The BSE Midcap and Smallcap indices are up over 1% each. Market breadth is strong with 704 advances against 417 declines on the NSE. All sectoral indices, but FMCG, are trading higher. The capital goods space is clearly leading the rally; BSE Capital Goods index is up 5.3%.

The next near term target (3-4 months) for the Sensex is 22,000-24,000, says Hitendra Vasudeo, technical analyst, on CNBC-TV18. It will have a strong base at 18,000 or so, he adds.