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Nifty basic volume profile analysis for today:

Yesterday, shared about various types of volume profile analysis and how to prepare for next day. Read here


We had discussed that a "p" shaped profile and close at highs indicates longs are in control of the market.

It also indicates high chances of uptrend continuation next day.

But

(2/n)

How to trade a failure of trend continuation? Yesterday, we saw a "P" shape profile in Nifty and close at highs.

But we failed to continue upmove today.

(3/n)


We opened positive but the opening breakout not sustaining is first cue to understand that bulls are lacking initiative to push prices up further.

(4/n)

For confirmation, one can use orderflow as well to see real time supply demand flowing into the market.

At open today, we saw fresh sellers coming in a bullish opening.

(5/n)
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