Intermediate Trend : uptrend still on

The chart on the left shows the nifty between Oct 3 and Jan 20. 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 Dec 26 when the sensex bottomed out at 25,754 (B-2).

Long-term Trend : uptrend has survived

The chart on the left shows the sensex between Oct 3 and Jan 20 . 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 and the nifty had gone under their previous intermediate bottoms and also fallen below their 200-day moving averages, thus threatening a bear market.

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