Nifty 50

Hi guys how are you today? Hope you all are doing great.

Today's session looks bearish if we judge it obly by the closing number. But underneath that -0.16%, today's market was actually healthier than yesterday's session.

Yesterday, Nifty fell 0.15%, but breadth was heavily negative at 17 advances vs 30 declines, and the index had to recover sharply from 24265.95.

Today, the index again closed lower, but: 

• Breadth improved dramatically: 28 advances vs 22 declines
• The intraday low moved significantly higher to 24311.40
• The previous day's 24265.95 low was not tested
• THe index spent much of the session consolidating rather than collapsing.
• Selling pressure was unable to push Nifty below the 24300-24310 area

So today's message is less: 

"The Bears are taking control". and more " The market is trying to build a floor, but the bulls have not yet reclaimed control".

Heatmap 

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