Market declined for second successive week. (14,401.49 - 22.8.2008)[8.8.2008: 15,167.82; 14.8.2008:14,724.18]
market is in intermediate downtrend. The downtrend started on 12 July 2008.
the levesls to be crossed for start of intermediate uptrend is 14,746 for sensex and 4,435 for Nifty.
Long term trend down.
Long term trend will turn up if sensex closes above its last intermediate top of 15,580, and nifty 4,650.
If the present intermediate downtrend reverses above sensex 12,514 odd for an uptred will increase.
Global:Dow will enter intermediate downtrend if it crosses 11,800.
Uptrend above 12,000.
Sensex is at the same level at it was a year ago.
Deepak Mohoni, ET, 25.8.2008
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