Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

Short Covering from an Extreme Short Term Inventory – Indicates weakness – Market Profile

22 sec read

Nifty trading inventory goes short to too short as on last Monday trading session followed by a short-covering rally and this inventory adjustment process brings the exits of weaker hand shorts out of the system. However, this short-covering could weaken the market.

Market Profile chart shows that the immediate trend is positive. However structural positional weakness do persist which could bring short term trend reversal to downside

Possible Higher odds of Nifty getting back to 15200 or lower in this series. Any rally from here will be seen as temporary uptrend and odds of higher that this series we could see one more fresh low for the month.

Rajandran R Founder of Marketcalls and Co-Founder Algomojo. Full-Time Derivative Trader. Expert in Designing Trading Systems (Amibroker, Ninjatrader, Metatrader, Python, Pinescript). Trading the markets since 2006. Mentoring Traders on Trading System Designing, Market Profile, Orderflow and Trade Automation.

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