⦿ Trend: Confirmed Downtrend
⦿ Momentum: Negative & worsening
⦿ Breadth: Weak
⦿ Bias: Bearish
⦿ Swing Confidence: 0

⦿ Most indices (including CNX500, Banknifty, NiftyJr, Smallcap) are now in a confirmed downtrend.
⦿ Nifty & Midcap are the only major indices still in uptrend-under-pressure.
⦿ FMCG & Auto are the only indices in a confirmed uptrend.
⦿ IT stays in a rally attempt.

⦿ Most indices have negative & worsening momentum.
⦿ IT is the only index with positive (but worsening) momentum.
⦿ Long-term momentum still in positive territory in Banknifty, PSUbank, Auto & FMCG.

⦿ Nifty is in early downswing, while Smallcap is in confirmed downswing. Both are in a weekly downswing.
⦿ Swing Confidence is 0. Are you in all-cash?
⦿ IT, 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 still not even near-oversold. All possibilities are open.
⦿ Higher timeframes stay bearish. Bulls would love to see the 10-week MA crossover the 40-week MA, as a first signal of strength.

Currently, the bias is bearish.

⦿ Net New Highs are negative for 3-consecutive days.

⦿ NIFTY is below its 50-day MA.

⦿ IT & FMCG are relatively outperforming indices.

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