Market sentiment
Sentiment and positioning measurement across 16 factor groups — describes conditions, not a forecast.
- 1D
- ▲+6.7sentiment 1D up +6.7
- 1W
- ▲+7.4sentiment 1W up +7.4
- 1M
- ▲+13.8sentiment 1M up +13.8
- 3M
- ▲+7.5sentiment 3M up +7.5
Model confidence
Current regime
NEUTRAL. No specialised regime has all of its conditions met; classified from the overall score and its breadth of support.
- ○ HIGH-VOLATILITY · 0/3
- ○ EVENT-DRIVEN · 1/3
- ○ STAGFLATIONARY · 0/3
- ○ DEFLATIONARY · 0/3
- ○ RISK-OFF · 1/4
- ○ RISK-ON · 1/4
Summary
Indian market sentiment is currently 52/100, in Neutral territory. The strongest positive contributors are constructive option premium flow, stable INR, contained volatility and strong retail participation. Sentiment is being restrained by narrow market breadth, weak global risk appetite and commodity-price pressure. Option positioning is moderately defensive, and it persists into later expiries.
Sentiment improved 6.7 points over 1 day (45 → 52), primarily because option premium flow improved, G-Sec conditions eased and institutional flows improved. The improvement was partially offset as commodity pressure increased.
Factor contribution
Factor score around neutral 50 · contribution in points
What is driving the market
- Constructive option premium flow+2.1
- Stable INR+1.4
- Contained volatility+0.9
- Strong retail participation+0.5
- Narrow market breadth-1.8
- Weak global risk appetite-0.4
- Commodity-price pressure-0.4
Sub-scores
0–100
- Market momentum52
- Internal strength37
- Sector risk appetite40
- Institutional flow49
- India liquidity47
- Credit stress54
- Global risk appetite41
- Earnings momentum41
- Retail speculation66
NIFTY vs sentiment
Point-in-time sentiment history · shared time axis
Data table
| Time | NIFTY 50 | Sentiment |
|---|---|---|
| 2026-07-28 | 26,357 | 50.2 |
| 2026-07-29 | 26,086 | 47.1 |
| 2026-07-30 | 26,009 | 46 |
| 2026-07-31 | 26,165 | 49.2 |
| 2026-08-03 | 26,501 | 51.6 |
| 2026-08-04 | 26,674 | 51.3 |
| 2026-08-05 | 26,811 | 49.8 |
| 2026-08-06 | 27,055 | 53.8 |
| 2026-08-07 | 26,989 | 52.5 |
| 2026-08-10 | 26,939 | 51.7 |
| 2026-08-11 | 27,032 | 52.9 |
| 2026-08-12 | 26,735 | 54.1 |
| 2026-08-13 | 26,450 | 49.7 |
| 2026-08-14 | 26,386 | 48.1 |
| 2026-08-17 | 26,501 | 51 |
| 2026-08-18 | 26,505 | 47.3 |
| 2026-08-19 | 26,055 | 42 |
| 2026-08-20 | 26,278 | 44.3 |
| 2026-08-21 | 26,038 | 45.4 |
| 2026-08-24 | 26,004 | 44.6 |
| 2026-08-25 | 26,118 | 44.8 |
| 2026-08-26 | 26,050 | 45.9 |
| 2026-08-27 | 25,916 | 43 |
| 2026-08-28 | 25,965 | 41.7 |
| 2026-08-31 | 25,991 | 42.8 |
| 2026-09-01 | 25,535 | 39 |
| 2026-09-02 | 25,535 | 36.6 |
| 2026-09-03 | 25,815 | 41.6 |
| 2026-09-04 | 25,562 | 36.9 |
| 2026-09-07 | 25,843 | 40.3 |
| 2026-09-08 | 25,712 | 39.2 |
| 2026-09-09 | 25,754 | 40.3 |
| 2026-09-10 | 25,381 | 36.8 |
| 2026-09-11 | 25,366 | 36.6 |
| 2026-09-14 | 25,871 | 43 |
| 2026-09-15 | 25,751 | 41.5 |
| 2026-09-16 | 25,463 | 42 |
| 2026-09-17 | 25,006 | 39.3 |
| 2026-09-18 | 25,155 | 39 |
| 2026-09-21 | 25,106 | 35.7 |
| 2026-09-22 | 25,260 | 34.9 |
| 2026-09-23 | 24,815 | 33.3 |
| 2026-09-24 | 25,170 | 35.3 |
| 2026-09-25 | 25,149 | 35.4 |
| 2026-09-28 | 25,116 | 35.4 |
| 2026-09-29 | 25,303 | 36.6 |
| 2026-09-30 | 25,164 | 38.6 |
| 2026-10-01 | 25,326 | 40.7 |
| 2026-10-02 | 25,364 | 41.8 |
| 2026-10-05 | 25,336 | 41.4 |
| 2026-10-06 | 25,358 | 40.1 |
| 2026-10-07 | 25,263 | 37.9 |
| 2026-10-08 | 25,498 | 40.6 |
| 2026-10-09 | 25,516 | 42.7 |
| 2026-10-12 | 25,884 | 44.9 |
| 2026-10-13 | 25,773 | 44.4 |
| 2026-10-14 | 25,930 | 45.7 |
| 2026-10-15 | 26,243 | 48.1 |
| 2026-10-16 | 26,138 | 45.5 |
| 2026-10-19 | 26,588 | 52.2 |
NIFTY option chain
Current expiry
- Expiry
- 2026-10-20
- Spot / ATM
- 26,588.4 / 26600
- Call premium
- ₹132 Cr
- Put premium
- ₹128 Cr
- Premium PCR
- 0.97
- OI PCR
- 1.02
- Max Pain (theoretical)
- 26600 (−0.0%)
- Potential support
- 26500
- Potential resistance
- 27000
Bullish-leaning positioning in the current expiry also appears in later expiries (near 76, later 82).
The 20 questions
Answered from the current snapshot
- neutral:1. What is Indian market sentiment?
52/100 — 🟡 NEUTRAL (NEUTRAL). Model confidence 100/100.
- supportive:2. Is sentiment improving or deteriorating?
Improving: +7.4 over 1W, +13.8 over 1M, +6.7 over 1D.
- neutral:3. What are the biggest drivers?
Positive: Option Premium Flow, Currency, Volatility. Negative: Market Breadth, Global Risk Appetite, Commodities.
- caution:4. Is the move broad-based?
No — breadth 38/100. Neutral divergence.
- neutral:5. What are FIIs and DIIs doing?
Neutral. FII 1M ₹17,051 Cr, DII 1M ₹37,933 Cr.
- neutral:6. What does the option chain indicate?
Positioning 47/100, premium flow 78/100; NIFTY net premium pressure +0.77.
- neutral:7. What is total Call Premium vs Put Premium?
NIFTY current expiry (±10 strikes): calls ₹132 Cr vs puts ₹128 Cr — premium PCR 0.97.
- neutral:8. What is OI PCR vs Premium PCR?
OI PCR 1.02 (neutral) vs premium PCR 0.97 (neutral).
- neutral:9. Where are the major OI concentration zones?
Potential support 26500 (put OI); potential resistance 27000 (call OI). Spot 26588.
- neutral:10. What is Max Pain?
26600 for 2026-10-20; spot is −0.0% away. A theoretical positioning metric, not an expiry forecast.
- neutral:11. What is happening in the far-month expiry?
Bullish-leaning positioning in the current expiry also appears in later expiries (near 76, later 82).
- supportive:12. Is volatility confirming the move?
Yes — confirms the risk-on move (Volatility 63/100). India VIX 21.9 (57th percentile, 10Y). Volatility is near normal levels.
- supportive:13. Is INR confirming the move?
Yes — confirms the risk-on move (Currency 79/100).
- supportive:14. Are bonds confirming the move?
Yes — confirms the risk-on move (Bond Market 57/100).
- neutral:15. Is credit confirming the move?
Neutral — neither confirms nor contradicts (Credit 46/100). Credit Stress Score 54.
- caution:16. Is global risk appetite confirming the move?
No — contradicts the risk-on move (Global Risk Appetite 41/100).
- neutral:17. Are valuations stretched?
Near historical norms (valuation 48/100; P/E 23.5x, 62th pct 10Y).
- caution:18. Is earnings momentum improving?
No — earnings momentum 41/100; forward EPS +0.1% over 3M.
- neutral:19. Are market internals confirming the index?
No — Market Internal Strength 37/100 vs NIFTY +5.7% (1M).
- neutral:20. What are the major divergences?
No active divergences.
FII / DII flows
| Window | FII / FPI | DII |
|---|---|---|
| 1D | ₹9,097 Cr | ₹1,916 Cr |
| 5D | ₹11,778 Cr | ₹15,688 Cr |
| 1M | ₹17,051 Cr | ₹37,933 Cr |
| 3M | ₹1,00,929 Cr | ₹1,04,762 Cr |
| 6M | ₹2,11,743 Cr | ₹1,72,310 Cr |
Divergences
No active divergences.
What to monitor
- The score (52) is within 3 points of the 55 band boundary.
- Equity Momentum is near neutral (52) and could tip either way.
- Derivatives Positioning is near neutral (47) and could tip either way.
- FII/DII Flows is near neutral (49) and could tip either way.