Intermediate Trend : downtrend 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 sensex is in an intermediate downtrend which started on Jan 29 when the sensex topped out at 36,444 (T-2).

Long-term Trend : is still 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 still have rising intermediate tops and bottoms, and are also above their 200-day averages, indicating that our market’s long-term (major) trend is still up.

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