⦿ Trend: Confirmed Downtrend
⦿ Momentum: Negative but improving
⦿ Breadth: Weak
⦿ Bias: Bearish
⦿ Swing Confidence: 50

⦿ Most indices (including CNX500, Banknifty, NiftyJr, Smallcap) are in a confirmed downtrend.
⦿ Nifty & Midcap are the major indices in uptrend under pressure.
⦿ PSE index joins FMCG in a confirmed uptrend.
⦿ IT index goes back to a confirmed downtrend.
⦿ Energy, OilGas, Power join PSUBank & Realty in a rally attempt.

⦿ Most indices have negative but improving momentum.
⦿ Nifty still has negative & worsening momentum.
⦿ PSE & IT are the only indices with positive momentum.

⦿ Nifty is in a confirmed downswing, while Smallcap is in confirmed upswing. Both are in a weekly downswing. Swing Confidence is 50.
⦿ IT, FMCG & PSE indices are in weekly upswing.
⦿ Rest of the indices are in a confirmed weekly downswing.

⦿ Market breadth, for all its attempt at improving, stays pretty much unchanged from last week.
⦿ Almost all timeframes, barring 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 a signal of strength.

Currently, the bias is bearish.

⦿ Net New Highs stay negative for 3-consecutive days. During the week, there was just a single day where NH-NL went positive.

⦿ NIFTY is below its 50-day MA.

⦿ CNXPSE & FMCG are relatively outperforming indices.

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