The chart on the left shows the nifty between January 1 and April 1. 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 Mar 4 when the index topped out at 30,025 (T-19).
Our market’s long-term (major) trend remains up, but the BSE SmallCap index has is below its 200-day moving average, and to a three-month low. The other indices have come close to their 200-dmas now.