Reblog – Intermediate Trend : uptrend still on
The market remains in an intermediate uptrend with the sensex, nifty and the Nifty Midcap 100 all in one. The uptrend began on June 24 when the sensex bottomed out at 25,911. As of now, the indices will have to go below their June 24 lows for a downtrend, but those levels will rise to the top of the minor decline that has set in. The levels are 27,900 for the sensex, 7,925 for the nifty, and 12,900 for the Midcap 100.
The US indices have now entered an intermediate uptrend. The FTSE-100, BOVESPA, Shanghai and our market were already in one. The other markets are still in intermediate downtrends.