Samvat 2078 market outlook: Sensex can hit 64,000; Nifty target 19,500

The key benchmark indices may record new all-time high levels in Samvat 2078, provided they conquer the near-term significant resistance levels.

S&P BSE SENSEX
Likely target: 64,000 (after crossing 61,500)
Upside potential:  4%

The BSE Sensex may turn bearish only after breaching the 59,000-level decisively. Such scenario thereafter may reflect a formation of “Head and Shoulder” symbolising aggressive sell-off and profit booking. The current trend indicates indecision and the index may see sideways movement. An up move above 61,500 may trigger a rally towards new uncharted territory of 64,000 levels in Samvat 2078. CLICK HERE FOR THE CHART  

NIFTY50
Likely target: 19,000 and 19,500 (after conquering 18,300)
Upside potential: 3.50% to 6.50%

As long as the Nifty sustains above