Nifty breached its 50-DMA and the current distribution day count stands at three. In the broader market, there has been persistent selling pressure as Nifty Midcap and Smallcap have breached their 50- and 100-DMA, respectively. We will change the status to a Downtrend if the distribution day count increases or if Nifty fails to rebound and breaches another crucial support. On the flip side, the market status will be changed back to a Confirmed Uptrend if Nifty retakes 22,525 (its recent rally high