⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative & Worsening
⦿ Breadth: Worsening
⦿ Bias: Sideways
⦿ Swing Confidence: 25

⦿ Most indices stay in uptrend under pressure.
⦿ Metal, OilGas, & PSE are the only indices in a confirmed uptrend.
⦿ IT improves to a rally attempt.

⦿ Almost all major indices have negative & worsening momentum.
⦿ IT, PSE, Commodities & OilGas indices have positive & improving momentum.
⦿ PSUbank & Metals have positive but worsening momentum.

⦿ While Nifty is in early upswing, Smallcap is in a confirmed downswing. Both indices are still in a weekly upswing.
⦿ Swing Confidence is 25. Long-only swing traders would be 25% invested now.
⦿ IT, Commodities, Energy, OilGas & PSE indices are in confirmed upswing.

⦿ Market breadth slightly worse than last week.
⦿ Intermediate timeframes still to give a buy signal.
⦿ Higher timeframes stay bullish.

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 sideways.

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