Can the Nifty 50 index hit 15,000 in three months? Here's what charts say

Sensex and Nifty need to conquer 100-DMA to avoid a major sell-off. Global cues, too, need to remain supportive for the up trend to resume

The benchmark indices BSE Sensex and Nifty 50 reached a new historic peak of 62,245 and 18,604 in October 2021 and have since been on a downward spiral. Both the indices are presently trading 9 per cent lower from the top and every up move has been met with selling pressure.

That said, both the Sensex and Nifty 50 trade below their 200-day moving average (DMA), which most investors see as a key barometer for trend or a rally. The overall picture seems uncertain with traders and investors feeling confused about the trend ahead. 

In the last 9 sessions, the