Sensex likely to hit 63,500; Nifty marching towards 19,000, charts suggest

The overall market trend looks bullish; weakness, if any, may see investors buy at lower levels. Here's what technical charts indicate

The markets extended its longest rally of the calendar year into the eighth trading session, this morning, with key benchmark indices scaling fresh record highs. The BSE Sensex breached the 62,000-level for the first-time ever, and the Nifty edged past the 18,600-level, before a sudden bout of profit-taking forced the key benchmark indices into red for brief moment.

The BSE Sensex has rallied over 30 per cent at today's high of 62,202 so far this calendar year. Here's what the charts indicate for the BSE benchmark, NSE Nifty and select key indices going ahead.

S&P BSE SENSEX
Likely