Nifty vs 52 Week New Highs Minus Lows

In the chart above one could see even though nifty has been making new highs but 52 week highs minus lows figure is not able to sustain above 100 so one need to cautious...but one can argue that this is the case for months, so now with nifty P/E value at 25.29 this cautious approach becomes even more important.