It is a broad approach to overall market analysis that helps traders to realize the underlying strength or weakness associated with a market move
Thanks @PradeepBonde for the blogpost & @iManasArora for making breadth tool in context of Indian Market
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Breadth will treat all stocks in an index equally. Stock with largest capitalization and the smallest are both equal in breadth analysis. It can be applied to any exchange or index of securities, any sector or industry group.
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One may consider it "oscillating indicator", when reached a threshold level, either positive or negative, they tend to reverse or take a halt.
It is concerned with probability that market is approaching a major turning point, so it isn't helpful knowing everyday trends.