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Caelion

Log · week of 16–20 Feb 2026

Conditions turn Risk-on.

Nifty 500 breadth 43%, down 1 point. Nifty 50 +0.4% on the week.

The five conditions

  • TrendNifty 50 above its 200-day average+1.0%Met
  • BreadthAt least half the Nifty 500 above their 200-day average43%Not met
  • FearIndia VIX below its 70th percentile53rd percentileMet
  • DepthNifty 50 within 10% of its record close−2.9%Met
  • MomentumNifty 50 up over one month+1.6%▲ newMet

Changed since last week: momentum now met.

The index

Nifty 50 close
25,571
+0.4% on the week
From its record
−2.9%
India VIX
14.36
53rd percentile so far

Breadth

Nifty 500 above 200-day
43%
down 1 pts on the week
All 2,073 stocks
24%
Large caps
62%
Small caps
35%

Crossings

Against the 50-day average: 129 crossed above, 196 below.

Rotation

Breadth rose most
  • Realty21% above▲ +4 pts
  • Power24% above▲ +3 pts
  • Healthcare31% above▲ +3 pts
Breadth fell most
  • Auto49% above▽ −7 pts
  • Consumer svcs9% above▽ −7 pts
  • Durables18% above▽ −6 pts
Changed quadrant on the orbit map
  • ChemicalsImproving → Lagging
  • MediaWeakening → Lagging

Leaders

60 leaders · +29 joined · −29 left

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