Intermediate Trend : downtrend still on

The chart on the left shows the nifty between September 1 and December 19. 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 sensex is now in an intermediate downtrend which started on Nov 28 when the index topped out at 28,822 (T-18).).

Long-term Trend : up

The chart on the left shows the sensex between September 1 and December 19. 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 (major) trend remains up, with the main as well as broader indices persisting above their 200-day moving averages, and showing rising intermediate tops and bottoms on their charts.

Syndicate content