Nifty 50

Hi guys hope you are doing great.

Today's session is good example of why the headline percentage can be misleading.

Nifty lost only 0.12%, but underneath that relatively small decline, the market became considerably weaker than yesterday. The biggest warning is the breadth:

10 Advances vs 39 Declines That is very poor market internal reading.

At the same time, Nifty briefly broke below yesterday's 24311.40 low, reaching 24296.80, before recovering.

So today's market delivered a mixed but important message.

" The bulls are defending the 24300 area , but the breadth tells us they are doing it with relatively little participation. " 

The attempted recovery therefore looks more like support holding temporarily than a confirmed bullish reversal.

Heatmap

Thank you for reading my content really appreciate.