Here is the mini composite of the Nifty future from 27/12/12.
The balance with a prominent POC resolved to the upside and we saw single prints on 1/1/13 which took the market higher.
In Market profile terms a balanced profile followed by single prints from near that POC always signifies that longer time frame has entered and wish to take the value higher.
In the current context, this 5948 composite POC and the single prints from these levels are the most important support for the market.
The current auction of today is still above the POC of the 3 day balance of last week at 6036 currently. As long as this level holds the bulls are still in control.
A lower level of support is at 6006.
In terms of the orderflow we monitor in the trading room, though price is higher we have not seen a large conviction at higher levels in terms of volume activity. It may also be the reason that the ,market has quickly paused here around 6050 after doing a breakout from the 5 week consolidation.