Intermediate Trend : Mixed

The chart on the left shows the nifty between Aug 1 and Nov 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 market is in an intermediate downtrend which started on Nov 7 when the sensex topped out at 33,866 (T-3).

The sensex and nifty are not known to be out of their intermediate downtrends yet, but have been rallying. The nifty midcap 100 is in an uptrend. The downtrends started on Nov 7 when the sensex topped out at 33,866. The levels above which the downtrend would end remain 33,875 for the sensex, and 10,500 for the nifty. The midcap 100 index would go into a downtrend below 19,125. (Figures rounded to the nearest 25).

The sensex, nifty and most European indices are currently in intermediate downtrends, but have been rallying. All the other major global indices are now in intermediate uptrends.