🚨 Market breadth crashed, with only a slight recovery after 2:30 PM
▶️ No. of stocks down 4.5%+ surged above 6%
▶️ Stocks above 50 SMA dropped below 30%
▶️ Stocks above all 3 SMAs dropped below 15%
▶️ Net New Highs worsened sharply to -6.0%
▶️ Around 22% stocks closed in green today
Nifty took support from 22,200 level mentioned yesterday and formed a hammer.
If it does not reclaim 22,800 next week and instead closes below 22,200, the next level where it is likely to halt is 21,800.
⚠️ Caution: There is a gap created on 4 December 2023 near 20,300. If the fall extends, Nifty can proceed towards filling that gap.
Full breadth data in the attached screenshot 👇
ALT NSE Market Breadth