Intermediate Trend : uptrend still on

The chart on the left shows the nifty between April 1 and July 22. 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 remains in an intermediate uptrend with the sensex, nifty and the Nifty Midcap 100 all going through one. The uptrend began on June 24 when the sensex bottomed out at 25,911.

Long-term Trend : is up

The chart on the left shows the sensex between April 1 and July 22. 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 (i.e. major) trend is up, as the indices are above their 200-day moving averages, and also have rising intermediate tops and bottoms.

Syndicate content