Intermediate Trend : downtrend continues

The chart on the left shows the nifty between Nov 2 and Feb 11. 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 downtrend which started on Feb 1 when the sensex topped out at 25,002 (T-4).

Long-term Trend : is down

The chart on the left shows the sensex between Nov 2 and Feb 11. 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 trend is also down, and the sensex would have to climb above 26,300 for a new bull market.

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