Intermediate Trend : uptrend continues

The chart on the left shows the nifty between Nov 1 and Feb 23. The points marked "T" are intermediate tops, while those marked "B" are intermediate bottoms. 

The dashed line in the centre of the chart is the 200-day moving average of the nifty.

The market is in an intermediate uptrend which started on Dec 27 when the sensex bottomed out at 25,754 (B-2).

Long-term Trend : is up

The chart on the left shows the sensex between Nov 1 and Feb 23. The points marked "T" are intermediate tops, while those marked "B" are intermediate bottoms. 

The dashed line in the centre of the chart is the 200-day moving average of the sensex.

The sensex, nifty and nifty midcap 100 indices are now all above their previous intermediate tops, as well as their 200-day averages - indicating that the market’s major (longer-term) trend is now comfortably up, after being recently tested.

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