Intermediate Trend : uptrend still on

The chart on the left shows the nifty between Dec 2 and Apr 17. 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 now in an intermediate uptrend which started on Feb 4 when the index made a bottom at 19,963.

Long-term Trend : up

The chart on the left shows the sensex between Dec 2 and Apr 17. 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 is now unambiguously up, with the sensex and nifty as well as the broader midcap and smallcap indices all remaining above their 200-day moving averages for some weeks now. All the indices also have rising intermediate tops and bottoms, a confirmation that their long-term trend is up.

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