Chart is of India's NIFTY futures...price seems to be trending down while money flow index and on balance volume kept going up...should I be buying now? It appears that there were a lot of buyers who got suckered in 2750-2800 range...will the price go up to 2800 to get to the stops of short holders? Or will it keep going down to meet the next support around 2650?
The market seems to be behaving just like I guessed...rallied to about 2780 and now going down. Sold some shorts and made quick profits. Have sold some more during the afternoon rally at 2745 & 2735. Monday should be interesting if it gaps down...
