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Caelion

Log · week of 5–9 Jan 2026

Conditions turn Mixed.

Nifty 500 breadth 46%, down 13 points. Nifty 50 −2.5% on the week.

The five conditions

  • TrendNifty 50 above its 200-day average+2.6%Met
  • BreadthAt least half the Nifty 500 above their 200-day average46%▽ newNot met
  • FearIndia VIX below its 70th percentile8th percentileMet
  • DepthNifty 50 within 10% of its record close−2.5%Met
  • MomentumNifty 50 up over one month−0.3%▽ newNot met

Changed since last week: breadth no longer met, momentum no longer met.

The index

Nifty 50 close
25,683
−2.5% on the week
From its record
−2.5%
India VIX
10.93
8th percentile so far

Breadth

Nifty 500 above 200-day
46%
down 13 pts on the week
All 2,066 stocks
28%
Large caps
63%
Small caps
37%

Crossings

Against the 50-day average: 63 crossed above, 371 below.

Rotation

Breadth fell most
  • Power21% above▽ −18 pts
  • Metals46% above▽ −11 pts
  • Media21% above▽ −11 pts
Changed quadrant on the orbit map
  • TelecomLagging → Improving
  • PowerLagging → Improving
  • UtilitiesImproving → Lagging

Leaders

60 leaders · +39 joined · −39 left

Above both averages and within 5% of the 52-week high. A description of where prices sat, not a selection.

Notable

  • 13 points of breadth lost in a week

    The sharpest weekly drop of the year, from 59% to 46% of stocks above trend.