Long-term Trend : is still up

The chart on the left shows the sensex between Dec 1 and Mar 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 and nifty have rising intermediate tops and bottoms, and are above their 200-day averages, indicating that their long-term (major) trend is still up. The nifty midcap 100 has climbed back above its 200-day average.

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

The long-term uptrends of Shanghai and European indices had appeared to be under threat as they had gone below their previous intermediate bottoms and 200-dmas. Now, Shanghai is back above its 200-dma.