Intermediate Trend : downtrend continues

The chart on the left shows the nifty between June 1 and Sept 29. 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 Sept 8 when the sensex topped out at 29,077 (T-3).

Long-term Trend : is up

The chart on the left shows the sensex between June 1 and Sept 29. 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 have rising intermediate tops and bottoms.

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