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.

There was no change in the major trend of any of the Hotline stocks yesterday.

The major trend of all major global indices is up, as they have rising tops and bottoms, and are above their 200-day moving averages. London’s FTSE-100 has also distanced itself from its 200-dma and is making all-time highs.