The one-line definition
Breadth ka matlab hai — kitne stocks rally mein participate kar rahe hain vs index. Agar NIFTY 50 1% chada par sirf 8 stocks ne chadhaya, yeh narrow breadth hai. Agar 35 stocks chade aur 12 naye highs banaye, yeh broad breadth hai. Same index move, alag truth.
The common breadth indicators
- Advance-Decline ratio — kitne stocks up vs down today.
- New highs vs new lows — 52-week ya 20-day, depending on lens.
- % above moving average — kitne stocks 50-DMA / 200-DMA ke upar hain.
- McClellan-style oscillators — smoothed breadth momentum.
tietiy.in NIFTY 500 universe par yeh sab compute karta hai aur ek single "Breadth state" label produce karta hai — Strong / Healthy / Mixed / Narrow / Weak.
Why narrow breadth is a warning
Jab index naye highs banata hai par sirf 5-10 large-caps actually chal rahe hote hain, baaki sab range-bound ya neeche hote hain — yeh topping behavior ka classic sign hai. Index dikhata kuch hai, market actually kuch aur kar raha hota hai. 2007 top, 2020 Feb top — dono breadth pehle deteriorate huyi thi.
But: narrow breadth = "warning context", not "sell signal". Markets months tak narrow rehte hue chadh sakte hain. Yeh state-descriptor hai.
How tietiy uses it
- Market Health roll-up mein ek input.
- Driver pages par — "is driver ke andar kitne stocks lifecycle LEADING mein hain".
- Sector breadth — sector ke kitne stocks above 50-DMA.