Tech view: 3 reasons why Sensex & Nifty are failing to hit new record peaks

The traders and investors are cautious of heavy profit booking in the indices. However, there aren't any major technical signals to support this view

The benchmark indices -- BSE Sensex and NSE Nifty -- are struggling to cross their recent record levels and are in a consolidation phase, which according to analysts, is a sign that the bulls are in a 'fatigue stage'.

The BSE barometer Sensex is currently trading 800 points down from its all-time high of 53,126 while Nifty50 is off some 200 points from the record peak of 15,915. While the overall trend for the benchmark indices look positive, the current scenario is reflecting a confused state of mind among market players. 

In the first half of the current year 2021,