Intermediate Trend : uptrend continues

The chart on the left shows the nifty between April 1 and July 29. 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 June 24 when the sensex bottomed out at 25,911 (B-3).

Long-term Trend : is up

The chart on the left shows the sensex between April 1 and July 29. 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.

Our market’s long-term (i.e. major) trend is up, as the indices are above their 200-day moving averages, and also have rising intermediate tops and bottoms.

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