Intermediate Trend : uptrend threatened

The chart on the left shows the nifty between January 1 and April 24. 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 uptrend which started on Mar 27 when the index bottomed out at 27,248 (B-20).

Long-term Trend : up

The chart on the left shows the sensex between January 1 and April 24. 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. The BSE SmallCap index had gone below its 200-day moving average, but has climbed back up to a 7-year high. The other indices had stayed above the 200-dmas.

Syndicate content