⦿ Trend: Uptrend under pressure
⦿ Momentum: Negative but improving
⦿ Breadth: Weak
⦿ Bias: Bearish
⦿ Swing Confidence: 75

⦿ Pretty much unchanged from last week; 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.

⦿ Nifty, Midcap & CNX500 have negative but improving momentum.
⦿ IT is the only index with positive & improving momentum.
⦿ NiftyJr, Banknifty & SMallcap have negative & worsening momentum.

⦿ Nifty is in confirmed upswing, while Smallcap is in early upswing. Both are in a weekly downswing.
⦿ Swing Confidence is 75.
⦿ IT, Auto, FMCG & PSE indices are in weekly upswing. Rest of the indices are in a weekly downswing.

⦿ Market breadth further weakening from last week.
⦿ All timeframes, including very-short term ones, are below the 50% mark, but are not even near-oversold. All possibilities are open.
⦿ 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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