The mood in prices (Bhav) against the money behind it (Dhan), with the day's FII and DII activity read across cash and futures. Updated every trading evening.
The index needs a few weeks of daily data before every measure can be ranked against its own history. The method below is the whole of it.
Sources. NSE: FII/DII trading activity (provisional), participant-wise open interest, the index close file, the equity and F&O bhavcopies. NSDL: final FPI flows. Retail means NSE's "Client" category; Pro is brokers trading their own book.
| Measure | Component | Higher reads as |
|---|---|---|
| NIFTY 50 against its 125-day average | Momentum | greed |
| New 52-week highs against new lows (Nifty 500) | Price strength | greed |
| Share of Nifty 500 above its 200-day average | Breadth | greed |
| Advances share over 10 sessions | Breadth | greed |
| India VIX against its 50-day average | Volatility | fear |
| Nifty put-call ratio (OI), 5-day average | Options and skew | greed |
| Price of 5% OTM puts against 5% OTM calls | Options and skew | fear |
| NIFTY 50 against 10-year G-Sec, 20 sessions | Safe havens | greed |
| NIFTY 50 against gold, 20 sessions | Safe havens | greed |
| Gold ETF buying against its 20-day norm | Safe havens | fear |
| Smallcap 250 against NIFTY 50, 20 sessions | Risk appetite | greed |
| FII net cash, 5 sessions | FII cash | money backing |
| DII net cash, 5 sessions | DII cash | money backing |
| FII long share in index futures | FII positioning | money backing |
| Change in FII long share over 5 sessions | FII positioning | money backing |
| Retail (client) long share in index futures, read contrarian | Retail positioning | money leaving |
| Delivery-based volume behind the 5-day move | Delivery money | money backing |
It is a fear and greed index for the Indian stock market that reads two things separately: Bhav, the mood in prices and sentiment, and Dhan, the money actually going in or out. Each is scored 0 to 100 every trading evening. Reading them together tells a rally that money is funding from one it is not.
A single fear and greed number cannot tell a rally that institutions are funding from one they are selling into. Bhav Dhan scores mood and money separately, decodes the day's FII and DII activity across cash and futures, shows which measure moved the reading, and publishes its full history and track record free.
Cash market figures are NSE's provisional FII/DII trading activity, published each evening; final FPI figures are from NSDL. FII, DII, retail and proprietary positions in index futures and options come from NSE's participant-wise open interest report.
Funded rally: upbeat prices with money behind them. Hollow rally: upbeat prices without the money. Quiet accumulation: nervous prices while money comes in. Real retreat: nervous prices and money leaving. Balanced: neither leans far.
No. It is a reading of sentiment and money flows, published for information. The track record on this page shows what NIFTY did after each state in the past; the past does not promise the future.
Every trading evening after NSE publishes the day's reports, usually by 9 pm IST. NSDL's final FPI figures for a day arrive the next working day and are added then.
Sentiment and money-flow readings from exchange and depository data, scored by published rules. Source: NSE, NSDL; analysis by FinMinutes. FinMinutes is a financial data and analytics platform; nothing here is a recommendation to buy, sell or hold any security.