Intermediate Trend : Mixed

The chart on the left shows the nifty between Sept 1 and Dec 14. 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 Nov 7 when the sensex topped out at 33,866 (T-3).

The sensex and nifty remain in intermediate downtrends, as they have started falling again. The downtrends started on Nov 7 when the sensex topped out at 33,866. However, the nifty midcap 100 remains in an uptrend. The levels above which the downtrend would end remain 33,550 for the sensex, and 10,350 for the nifty. The midcap 100 index would go into a downtrend below 19,525. (Figures rounded to the nearest 25).

Global indices are now in mixed intermediate trends, with the Dow, S&P 500, DAX, FTSE-100 and CAC-40 in intermediate uptrends, and the rest in downtrends.