⦿ Trend: Uptrend under pressure
⦿ Momentum: Positive but worsening
⦿ Breadth: Not worsening
⦿ Bias: Sideways
⦿ Swing Confidence: 50

⦿ While Nifty, Banknifty & NiftyJr are in uptrend under pressure, CN500, Midcap & Smallcap are still in a confirmed uptrend. We stay overall in an uptrend under pressure.
⦿ Pharma/Healthcare move down into uptrend under pressure.
⦿ There is still no index in a confirmed downtrend.

⦿ Majority of the indices have positive but worsening momentum.
⦿ Media is the only index with positive & improving momentum.
⦿ MNC index joins PVTBank & FMCG as indices with negative & worsening momentum.

⦿ Both Nifty & Smallcap are in a weekly upswing. While Smallcap is in confirmed upswing, Nifty is in a confirmed downswing. Swing Confidence is 50.
⦿ Nifty has broken down below its first nearest support at 19300, & now the gates to 18900 are open.
⦿ Majority of indices are in a confirmed downswing. Only midcap, smallcap & power indices are in a confirmed upswing.

⦿ Market breadth not weakening any further on short-term timeframes.
⦿ Intermediate-term timeframes stay in buy mode.
⦿ Higher timeframes stay comfortably bullish.

⦿ Currently, the bias is sideways.
⦿ NIFTY is now below its 50-day MA.
⦿ Net New Highs stay positive for 3-consecutive days.

⦿ Sectoral indices are outperforming the benchmark Nifty.

⦿ Media, Midcap & Smallcap are the top indices showing absolute out-performance.

⦿ FMCG & Banknifty show under-performance.

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