The StratLab Daily
No. 46 · Tuesday 28 Apr 2026 · NSE, data through close
Redesign v5 · One-thesis + Market Health · Real data
Risk jumped 1 tier to Moderate.
NIFTY −0.40% to 23,996. A multi-tier risk move in one session is rare — the engine's five-tier scale rarely skips a step.
What happenedNIFTY −0.40% to 23,996. Risk jumped 1 tier to Moderate.
The tensionMarket Health is Strong Bull at Moderate risk, 53rd percentile.
Net readA tactical move inside a fragile backdrop.
Nifty Close
23,995.70
−0.40%
Market Phase
🟢 Strong Bull
session 2 · → stable
Risk
Moderate
confidence 55
FII Idx Fut
−170.7K
34.3th %ile
Walls
23.9–24.0K
PE base · CE wall
01 The crowd
Risk jumped 1 tier to Moderate.
Positioning over the last 20 sessions
FII net index futures · 20 sessions · '000 contracts · endpoint = 28 Apr · source: StratLab participant OI
What this means: A multi-tier risk move in one session is rare — the engine's five-tier scale rarely skips a step.
02 The turn
What changed today
What this means: Low → Moderate · confidence 55
03 The catch
Market Health reads Strong Bull
Market health over the last 20 sessions
Market Health Index · 20 sessions · 0–100 · endpoint = 28 Apr · percentiles vs 1,187 sessions
What this means: the index moved; Market Health's 53rd-percentile read says the internals haven't confirmed it yet.
Phase
🟢 Strong Bull
risk Moderate
Participation
59.2369
delivery breadth
StratLab Breadth Index
83.8
94th %ile, trailing year
04 Days like today
113 sessions like this one.
Every session sharing today's Market Health signature — strong bull, Moderate risk — 113 of them on record.
Conditions analog · Phase + Trend + Risk match
n = 113 · tier: exact
| Horizon | Avg | Median | Win rate | Worst |
|---|
| Next session | +0.04% | +0.00% | 50% | −1.17% |
| Next 5 sessions | −0.04% | +0.09% | 54% | −4.77% |
| Next 10 sessions | +0.13% | +0.45% | 58% | −6.36% |
| Next 20 sessions | +0.94% | +1.26% | 65% | −10.56% |
This compares today against every session sharing the same Market Health signature, regardless of what triggered it.
Conditions like today historically favored caution, with exposure kept tight.
05 Tomorrow's tripwires
Three checks that settle the argument
Market Phase exits upward
Strong Bull runs a median of 3 session(s) (max 22) — this is session 2. 22% of exits went up.
Market Health crosses the 50 midline
MHI at 70.0 — a close back above 50 would end the 53rd-percentile read.
Phase slips to Bear Market
3.7% of Strong Bull exits went straight to Bear — the conditions analog's worst 5-session outcome (−4.77%) lives on that path.
The ledger
Where that leaves us
Lines up bullish
- Risk jumped 1 tier to Moderate.
Lines up bearish
- Market Health 53rd percentile · Moderate risk
- Conditions analog: −0.04% avg next 5 · 54% win
Net read: A tactical move inside a fragile backdrop.
Risk jumped 1 tier to Moderate. A tactical move inside a fragile backdrop.
Regime
BEAR