⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative & Worsening
⦿ Breadth: Weak
⦿ Bias: Bearish
⦿ Swing Confidence: 0

⦿ Most indices stay in uptrend under pressure.
⦿ NiftyJr & Smallcap are the major indices in confirmed downtrend.
⦿ FMCG joins Auto as the only indices in a confirmed uptrend.
⦿ IT stays in a rally attempt.

⦿ Almost all major indices have negative & worsening momentum.
⦿ IT is the only index with positive & improving momentum.
⦿ Auto & FMCG have negative but improving momentum.

⦿ Smallcap index is now in weekly downswing, while Nifty is still in weekly upswing. Both are in downswing under strain.
⦿ Swing Confidence is 0. Long-only swing traders would be in all-cash now.
⦿ Auto, FMCG & IT indices are in confirmed upswing.

⦿ Market breadth stays weak.
⦿ Lower timeframes are approaching near-oversold zone.
⦿ Higher timeframes stay bearish.

Difference between new 52-week highs & lows gives us Net New Highs.

⦿  Three consecutive positive days of net 52-week highs give us a positive bias towards the market, which is then considered favourable to trading. Conversely, 3 consecutive negative days of net 52-week highs give us a negative bias towards the market, which is then considered unfavourable to trading.

⦿  The daily bias should confirm with the latest weekly net highs. 

⦿  If either of the above 2 conditions are not satisfied, the bias is termed as being sideways.

Currently, the bias is bearish.

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