Intermediate Trend : uptrend continues

The chart on the left shows the nifty between Sep 1 and Dec 9. 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 Nov 21 when the sensex bottomed out at 25,718 (B-2).

Long-term Trend : still up

The chart on the left shows the sensex between Sep 1 and Dec 9. 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 nifty have been crossing their 200-day moving averages both ways, but are above their previous intermediate lows.

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