Yesterday's 1% bounce was a one-day reprieve, not a turn. Today Nifty closed flat at 23,985 while decliners swamped advancers 1,565 to 642 — the index held, the market did not. The trajectory is a broad decline, and the screen's setups exist because the screener runs every day, not because the backdrop supports them.
The internals say deterioration, not consolidation
The slow structural gauge — the share of stocks above their 200-day average — has slid from 43.8% six sessions ago to 41.4% today, a steady bleed that confirms this is not a routine pullback inside an uptrend. The fast short-term gauge, stocks above their 20-day average, collapsed from 43.6% on 21 July to 34.1% today, with Monday's bounce to 39.1% entirely reversed in a single session. Net new highs tell the same story: 86 on 21 July, down to a negative reading on 23 July, and only 25 today despite a flat index — the leadership pool is shrinking. Sixty-four stocks dropped from Stage 2 to Stage 3 against just 28 moving the other way over the last five days; the advancing cohort is narrowing, not widening.
Leadership is narrow and concentrated in two sectors
Real Estate and Information Technology led on the day, up 2.1% and 2.0% respectively, and both are where the Stage-2 cohort has been expanding fastest over the last 20 days — they are the only pockets of genuine structural momentum right now. Health Care holds the strongest Stage-2 participation at over 50% of its stocks in the advancing stage, and names like Wanbury Ltd have cleared the screen with high setup scores, but Health Care clearing screens in a deteriorating tape is context, not a signal to act. With only 41% of the broader market above their 200-day average and the Nifty itself sitting below that level, the weight of evidence is against new setups following through.
| Stock | Sector | Setup | % 1D |
|---|---|---|---|
| Wanbury Ltd | Health Care | 9.4 | -5.1% |
| Sky Gold and Diamonds Ltd | Consumer Discretionary | 9.4 | -0.5% |
| Kabra Extrusion Technik Ltd | Industrials | 9.4 | -1.4% |
| Cyient DLM Ltd | Industrials | 9.2 | +2.5% |
| RPG Life Sciences Ltd | Health Care | 9.0 | -1.3% |
| Kapston Services Ltd | Industrials | 9.0 | -2.2% |
| Filatex India Ltd | Consumer Discretionary | 9.0 | -2.3% |
| Steel Strips Wheels Ltd | Consumer Discretionary | 9.0 | +0.3% |
| Sector | 1D | 1M | 3M | RS | Stage 2 |
|---|---|---|---|---|---|
| Real Estate | +2.1% | +12.2% | +16.0% | 53 | 23% |
| Information Technology | +2.0% | +9.2% | +3.4% | 47 | 31% |
| Communication Services | +0.5% | +4.1% | +9.2% | 65 | 20% |
| Consumer Discretionary | +0.1% | +4.7% | +5.9% | 69 | 36% |
| Health Care | -0.1% | +3.2% | +14.2% | 74 | 50% |
| Financials | -0.4% | -0.7% | -1.6% | 62 | 34% |
| Energy | -0.6% | -0.2% | -4.6% | 57 | 29% |
| Materials | -0.7% | +1.0% | +0.0% | 69 | 32% |
| Industrials | -0.7% | -2.0% | +5.7% | 70 | 37% |
| Consumer Staples | -1.3% | +0.1% | -2.7% | 54 | 24% |
| Utilities | -1.8% | -3.6% | -4.5% | 62 | 21% |
Work the same data live: open the full stock screener, watch the live market dashboard, or check the market-timing read. New to the method? Start with the four stages.
Stage2Stocks is an educational stage-analysis screener. These wraps describe what the screen shows across NSE cash equities — they are not investment advice, recommendations, or buy/sell calls. Always do your own research.