The damage is broader than the Nifty's 0.9% fall suggests. There are 330 stocks at 52-week lows against 77 at highs, leaving lows ahead by 253 — the widest negative gap in the 30-session window. Only 23% of stocks are above their 20-day average, 26% above their 50-day and 34% above their 200-day. All three participation measures are at window lows. The index closed at 22,421.9, just 0.4% above its own 52-week low. This is broad deterioration, not merely weakness in a few index heavyweights.
Less negative is not repaired
The five-session Stage-2 pipeline has improved from a deficit of 54 on 24 September to 27 today. But that still means 24 stocks moved from basing into advancing while 51 moved from advancing into topping over the latest five sessions. This balance has remained negative for 26 consecutive sessions. The advancing share is 30.3%, matching its window low, and has lost 3.7 percentage points over 20 sessions. A smaller outflow is not fresh participation. Today's 552 advancers against 1,924 decliners make that distinction plain.
IT's green close is not leadership
Information Technology rose 0.7%, the only sector to finish higher. Yet it has the weakest relative strength among sectors and the largest one-month loss, at 8.6%. Its advancing share has also fallen 3.7 percentage points over 20 sessions. The green close does not reverse that picture. Within IT, Technology Hardware tells a different story: it is up 15.5% over a month, with 56% in Stage 2 and an advancing share that has expanded 15.6 percentage points over 20 sessions. The sector headline conceals a substantial split between industries.
Early setups remain exceptions
SoftTech Engineers Ltd leads the early Stage-2 screen with a setup score of 8.3 out of 10, followed by Andhra Paper Ltd and Pasupati Acrylon Ltd at 7.9. These are individual screening results, not evidence of a market-wide recovery. Paper Products offers a useful industry contrast: it is up 4.6% over a month, and its advancing share has gained 20 percentage points to reach 40% across 25 stocks. It still fell 1.8% today. Even an industry with improving participation is taking damage in this tape; the early screen and the broad market are telling different stories.
| Stock | Sector | Setup | % 1D |
|---|---|---|---|
| SoftTech Engineers Ltd | Information Technology | 8.3 | -3.9% |
| Andhra Paper Ltd | Materials | 7.9 | -1.8% |
| Pasupati Acrylon Ltd | Consumer Discretionary | 7.9 | -4.2% |
| Sree Rayalaseema Hi-Strength Hypo Ltd | Materials | 7.9 | -3.6% |
| Jash Engineering Ltd | Industrials | 7.8 | -2.6% |
| Wockhardt Ltd | Health Care | 7.5 | -1.5% |
| Ceigall India Ltd | Industrials | 7.4 | -0.7% |
| Carborundum Universal Ltd | Industrials | 7.4 | -1.0% |
| Sector | 1D | 1M | 3M | RS | Stage 2 |
|---|---|---|---|---|---|
| Information Technology | +0.7% | -8.6% | +1.2% | 47 | 24% |
| Health Care | -0.4% | -2.2% | +2.7% | 73 | 46% |
| Financials | -0.6% | -5.8% | -7.5% | 57 | 25% |
| Industrials | -0.9% | -3.1% | -2.7% | 66 | 26% |
| Communication Services | -1.1% | -5.9% | -1.7% | 58 | 22% |
| Consumer Staples | -1.4% | -5.4% | -9.7% | 47 | 33% |
| Utilities | -1.4% | -2.5% | -10.8% | 55 | 13% |
| Real Estate | -1.5% | -4.4% | -3.3% | 56 | 19% |
| Energy | -1.6% | -7.8% | -7.1% | 56 | 59% |
| Materials | -1.9% | -5.3% | -3.1% | 64 | 36% |
| Consumer Discretionary | -2.2% | -5.9% | +0.2% | 58 | 32% |
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.