Intermediate Trend : uptrend continues

The chart on the left shows the nifty between Feb 1 and May 31. 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 May 24 when the sensex bottomed out at 25,181 (B-4).

Long-term Trend : most likely up

The chart on the left shows the sensex between Feb 1 and May 31. 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.

Our market’s long-term is most likely up, with the indices showing rising intermediate tops and bottoms, and going above their 200-day moving averages.

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