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Intermediate Trend : uptrend continues

The chart on the left shows the nifty between July 3 and Oct 19. 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 Sep 28 when the sensex bottomed out at 31,082 (B-2).

Long-term Trend : remains up

The chart on the left shows the sensex between July 3 and Oct 19. 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 generally maintained rising intermediate tops and bottoms, and are above their 200-day averages - indicating that the market’s long-term (major) trend remains up.

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