Sensex on track to hit 65,000 in the medium-term, charts show

As per the technical charts, the Sensex has crossed two big crucial levels of 58,500 and 59,800. This scenario is likely to trigger a fresh rally that can see the index cross the last all-time high

Domestic equity markets have staged a dramatic turnaround over the last two months. The frontline indices – the S&P BSE Sensex and Nifty – have rallied over 17 per cent each from their respective lows in June. Thus far in August, they have surged around 6 per cent each.

The Sensex touched the 60,000-mark on Wednesday this week, which was the highest in over four months. Meanwhile, the Nifty index was close to reclaiming the 18,000 level on Friday.

“Markets are just 3 to 4 per cent off their lifetime highs. I think, clearly the sentiment along with liquidity &