Market Breadth Analysis
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For new users - Setup is
Bullish pattern Above MA - Bullish
Bearish pattern below MA - Bearish
Other combinations - NeturalBlue Line - X% & Black is DT% & Orange is Nifty 500 Setup%
I prefer setup% as a breadth indicator to identify the strength of the trend/market movement.
Today is a clear example where nifty went up 0.64% however, the setup breadth has declined forming a bearish divergence.
A drop in Bullish setup% indicates more stocks are moving to Neutral/Bearish which according to me isnt a healthy rise in price.
Happy to take suggestions/feedbacks or any comments.
@Prashant-Shah - I'd appreciate your view on the above analysis.
