Long-term Trend : is still up

The chart on the left shows the sensex between Nov 1 and Feb 20. 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 still have rising intermediate tops and bottoms, and are also above their 200-day averages, indicating that our market’s long-term (major) trend is still up.

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

The long-term trends of the main European indices as well as Shanghai may turned down, as they have gone below their previous intermediate bottoms, and under their 200-day moving averages as well.