Suppose at a point, the horizontal component of the magnetic field due to a magnet is equal and opposite to the earth’s horizontal magnetic field. The net horizontal field is zero at such a point. If a compass needle is placed at such a point, it can stay in any position. Such a point is called a neutral point.
Gravitation
A neutral point is a spot between two massive objects where the gravitational forces from both balance out, so a particle at that point feels no pull in either direction. The location of this neutral point is influenced by the masses of the objects and the distance between them, typically being closer to the heavier object.

Magnetism
A neutral point is where the magnetic fields cancel each other out, resulting in a net magnetic field of zero. This occurs when the magnetic field of one magnet perfectly balances and opposes that of another. At a neutral point, a compass needle won’t be influenced by any magnetic field and can point in any direction. The location of this neutral point can shift depending on how the magnetic fields are aligned.
