Intermediate Trend : still down

The chart on the left shows the nifty between April 1 and July 31. 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 July 23 when the sensex topped out at 28,578 (T-22).

Long-term Trend : seems to be sideways

The chart on the left shows the sensex between April 1 and July 31. 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 (major) trend seems to be sideways once again with the end of the last intermediate uptrend.

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