Intermediate Trend : uptrend still on

The chart on the left shows the nifty between February 2 and May 26. 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 is now in an intermediate uptrend which started on May 7 when the index bottomed out at 26,424 (B-21).

Long-term Trend : uptrend may be still on

The chart on the left shows the sensex between February 2 and May 26. 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 long-term trend had appeared to be under threat with the sensex and nifty developing falling intermediate tops and bottoms, and going below their 200-day moving averages.

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