The chart on the left shows the nifty between February 2 and May 25. 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 now in an intermediate uptrend which started on May 7 when the index bottomed out at 26,424 (B-21).
Our long-term trend had appeared to be under threat with the sensex and nifty developing falling intermediate tops and bottoms, and going below their 200-day moving averages.