Intermediate Trend : uptrend still on

The chart on the left shows the nifty between Oct 3 and Jan 16. 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 sensex, nifty and the nifty midcap 100 all continue to remain in intermediate uptrends. The uptrend started on December 6 when the sensex bottomed out at 32,565 (B-1).

Long-term Trend : continues to remain up

The chart on the left shows the sensex between Oct 3 and Jan 16. 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 rising intermediate tops and bottoms, and are also well above their 200-day averages, indicating that our market’s long-term (major) trend continues to remain up.

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