⦿ Trend: Confirmed Downtrend
⦿ Momentum: Negative but improving
⦿ Breadth: Weak
⦿ Bias: Bearish
⦿ Swing Confidence: 25

⦿ Most indices (including CNX500, Banknifty, NiftyJr, Smallcap) are still in a confirmed downtrend.
⦿ Nifty & Midcap are the major indices in uptrend under pressure.
⦿ FMCG is the only index in a confirmed uptrend.
⦿ PSUBank & Realty join IT index in a rally attempt.

⦿ Most indices have negative but improving momentum.
⦿ Nifty still has negative & worsening momentum.
⦿ IT is the only index with positive (but worsening) momentum.

⦿ Nifty is in downswing under strain, while Smallcap is in early upswing. Both are in a weekly downswing. Swing Confidence is 25.
⦿ IT, FMCG & PSE indices are in weekly upswing.
⦿ Among rest of the indices, all of which are in a weekly downswing, PSUBank & Realty appear to be the least stressed.

⦿ Market breadth still quite weak, but improving from last week.
⦿ All timeframes, including very-short term ones, are below the 50% mark; very much in a neutral zone.
⦿ Higher timeframes stay bearish. Bulls would love to see the 10-week MA crossover the 40-week MA, as the 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
⦿ PSUBank, Realty, FMCG & Infra are relatively outperforming indices.

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