⦿ Trend: Confirmed Downtrend

⦿ Momentum: Negative & worsening

⦿ Breadth: Worsening, with lower timeframes oversold

⦿ Bias: Bearish on all timeframes

⦿ Almost all indices are in confirmed downtrend

⦿ Only PSE, Power & Energy in uptrend under pressure

⦿ No index in confirmed uptrend

⦿ Almost all indices (including Nifty, Banknifty, CNX500, Midcap, Smallcap) have negative & worsening momentum.

⦿ Only Energy & Power still have positive (but worsening) momentum

Market breadth worsening on all timeframes. Higher timeframes have bearish bias, while lower & intermediate timeframes are well oversold.

⦿ 9% → 4% above 20 MA (highly oversold)

⦿ 30% → 11% above 50 MA (oversold)

⦿ 31% → 20% above 150 MA (bearish bias)

⦿ 35% → 25% above 200 MA (bearish bias)

The Ratio between stocks above & below 50MA is 0.14, while that for 20MA is 0.04. 

The 10-day cumulative ratio for stocks above 50MA is 0.3 now. A value >2 is good for swing trades on the long side.

On a modified Stockbee market monitor, the short-term indicator of 13% up in 34 days was already negative since past week. Now the intermediate 25% plus in a month & long-term metric of stocks 25% plus quarter are also negative.

The 10-day cumulative ratio (10-DCR) between stocks up & down 4% in a day is now below 0.5, & an indication of a bearish breadth thrust.

When market is in bearish phase, a fresh bull move starts when 10-DCR first time crosses above 2.

Overall, the market is now bearish, as the number of stocks up 25% plus in a quarter is now lesser than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 0.29.

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