⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative but improving
⦿ Breadth: Weak
⦿ Bias: Bearish
⦿ Swing Confidence: 50

⦿ Most indices stay in uptrend under pressure.
⦿ NiftyJr & Smallcap are the major indices in confirmed downtrend.
⦿ FMCG & Auto are the only indices in a confirmed uptrend.
⦿ IT stays in a rally attempt, but on the verge of entering a confirmed uptrend.

⦿ Some improvement. Now Nifty, Midcap & Smallcap have negative but improving momentum.
⦿ IT is the only index with positive & improving momentum.
⦿ NiftyJr, Banknifty & CNX500 still have negative & worsening momentum.

⦿ Both Nifty & Smallcap are in Early upswing. Both are in a weekly downswing.
⦿ Swing Confidence is 50. Fresh swing trades can be taken with a 50% position size.
⦿ Auto, FMCG & IT indices are in weekly upswing. Rest of the indices are in a weekly downswing.

⦿ Market breadth somewhat better than last week, but still weak.
⦿ Intermediate timeframes still far away from generating a fresh buy.
⦿ Higher timeframes stay bearish.

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 bearish.

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