Nifty Futures on Monday session opened with higher confidence however got back into the previous days range and started balancing in the first half before picking up the high confidence from the buyers in the second half followed by a late spike in the last 45 minute. Spike rules apply for Tuesdays trading.
Last tuesdays failed auction and prominent POC levels got cleared. Price revisited previous week high and also closed above that. Expecting a range bound to short term downtrending market in a very short term.
Monday trading session ended with poor structure as more and more emotional players tried to catch the momentum and also short term inventory getting long to too long. One of the signs that one have to be cautious on long positions. In a very short term market could get into short on rise mode towards 10150 levels and in worst case even lower.