Intermediate Trend : downtrend still on

The chart on the left shows the nifty between May 2 and Sept 30. 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 Sep 8 when the index reached 27,355 (T-17).

Long-term Trend : up

The chart on the left shows the sensex between May 2 and Sept 30. 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.

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