⦿ Trend: Uptrend under pressure
⦿ Momentum: Short-term positive but worsening
⦿ Breadth: Nearing overbought levels
⦿ Bias: Bullish
⦿ Swing Confidence: 50

⦿ Nifty & Midcap are now in uptrend under pressure.  
⦿ Smallcap index is still in a rally atttempt.
⦿ CNX500, NiftyJR & Banknifty stay in a confirmed uptrend.

⦿ While all indices are still in a positive momentum, it is now worsening in Nifty, CNX500 & Banknifty.
⦿ Long-term momentum will still take time to turn positive.
⦿ No index has negative & worsening momentum.

⦿ Nifty is in a Confirmed Downswing, while Smallcap is in a Confirmed Upswing!
⦿ Swing Confidence is now 50. Long-only swing traders can take selective fresh trades with a 0.5% CAR.
⦿ CNX500, IT & Pharma are in a confirmed downswing.

⦿ Market breadth stays healthy & neutral on lower timeframes.
⦿ Intermediate timeframes are nearing overbought levels.
⦿ Higher timeframes are bullish now.

⦿ On a modified Stockbee market monitor, the short-term indicator of 13% up in 34 days stays positive for 9th consecutive week.
⦿ The long-term metric of stocks 25% plus in a quarter stays positive for 7 consecutive weeks now.
⦿ The intermediate 25% plus in a month stays positive for 8th consecutive week.

Overall, the market is now bullish for the 7th consecutive week, as the number of stocks up 25% plus in a quarter stays greater than that down 25% plus in a quarter. The ratio between the two is the primary breadth ratio, which is now 17. These levels were last seen in August 2021.

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