⦿ Trend: Downtrend

⦿ Momentum: Negative but improving

⦿ Breadth: Weak but improving on all timeframes

⦿ Bias: Bearish on all timeframes (except the very short-term)

⦿ Most major indices (including Nifty, CNX500, Midcap, Smallcap) stay in downtrend.

⦿ Energy & Metal are the first indices to regain the confirmed uptrend status

⦿ Pharma & PSE in rally attempt

⦿ Metal index is the first one to regain positive momentum

⦿ Most indices (including CNX500, Midcap & Smallcap) have negative but improving momentum

⦿ Many indices (including Nifty & Banknifty) are still showing negative & worsening momentum

Higher timeframes stay bearish, but a fresh buy signal on very short-term timeframes.

⦿ 14% → 51% above 20 MA (buy signal)

⦿ 13% → 21% above 50 MA (near oversold)

⦿ 31% → 38% above 150 MA (bearish bias)

⦿ 37% → 42% above 200 MA (bearish bias)

The Ratio between stocks above & below 50MA is now 0.3, while that for 20MA is 1. The 10-day cumulative ratio for stocks above 50MA is 0.16. A value >2 is good for swing trades on the long side.

The number of stocks up 20% in past 5 days has given brief upswings, but failed to convert into sustained bullish uptrusts. Trading oppurtunites only in the very short-term.

⦿ On a modified Stockbee market monitor, the bearish phase (both in the long-term & short-term) continues for third consecutive week.

⦿ The 10-day ratio for stocks up 4% plus in a day shows a bullish breadth thrust.

⦿ The number of stocks 25% plus quarter stays less than 25% down quarter.

⦿ Both 13% up in 34 days, & up 25% up in a month have stayed red, which shows bearish phase in the shorter-term as well.

Overall, the market is bearish, as the number of stocks up 25% plus in a quarter is less than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is still less than 1.

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