⦿ Trend: Confirmed Uptrend
⦿ Momentum: Positive but worsening
⦿ Breadth: Strong
⦿ Bias: Bullish
⦿ Swing Confidence: 50

⦿ Almost all indices are in a confirmed uptrend.
⦿ IT index goes back to an uptrend under pressure.
⦿ There is no index in a confirmed downtrend.

⦿ Majority of the indices now have positive but worsening momentum.
⦿ Realty & PSE now have positive & improving momentum.
⦿ There is no index with negative momentum.

⦿ Both Nifty & Smallcap are a weekly upswing. While Smallcap is still in a confirmed upswing, Nifty is now in an early downswing. Swing Confidence is 50.
⦿ In this swing, this is the 3rd Ex (Early Downswing) candle. The price has taken a support exactly at the 20-day moving average.
⦿ Majority of indices are still in a confirmed upswing on daily timeframes. FMCG index is in confirmed downswing.

⦿ Market breadth stays strong.
⦿ Short-term timeframes still within neutral range.
⦿ Intermediate-term timeframes stay in buy mode.
⦿ Higher timeframes stay comfortably bullish.

Currently, the bias is bullish.

⦿ NIFTY is above its 50-day MA.

⦿ Net New Highs stay positive for 3-consecutive days.

⦿ CNX500 is barely outperforming the benchmark Nifty, but the gap between CNX500 & Nifty is very close now.

⦿ Media, Pharma/Healthcare & Realty are the top indices showing absolute out-performance.

⦿ IT, FMCG & Banknifty are the worst-performing indices, showing relative under-performance.

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