State of Market 10 Jan: Change in Outlook

The state of market completely reversed from Bullishness to Bearishness. See the last post.
This is consistent with the chart of Nifty which shows we are in a bearish range.

First the mode reports.

Now  lets check how are stocks w.r.t 50 and 100 DMA.

Conclusion: The state of market is Bearish with 50% of stocks in sell mode.

The number of stocks above the 100 DMA is also quite low at 21% which shows that there are less chances of Nifty pulling above 100 DMA at 5956 as the upward pull is quite less.

Also note the difference between Stocks above 50 DMA and above 100 DMA which is just 2%. This shows that bullishness is in very selected pockets.

Nifty in Regression channels.

This indicates the current trend as per the regression from last peak is down. Consistent with our state of Market.