Intermediate Trend : uptrend continues

The chart on the left shows the nifty between June 1 and Sept 22. 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 uptrend which started on Aug 11 when the sensex bottomed out at 31,128 (B-2).

Long-term Trend : is still up

The chart on the left shows the sensex between June 1 and Sept 22. 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 have generally maintained rising intermediate tops and bottoms, and are above their 200-day averages - indicating that the market’s major (long-term) trend is still up.

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