Intermediate Trend : downtrend still on

The chart on the left shows the nifty between May 2 and Aug 18. 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 Aug 02 when the sensex topped out at 32,686 (T-2).

Long-term Trend : is currently up

The chart on the left shows the sensex between May 2 and Aug 18. 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.

The sensex, nifty and nifty midcap 100 indices are all above their last intermediate tops, as well as their 200-day averages - indicating that the market’s major (longer-term) trend is currently up.

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