NIFTY EOD Analysis as on 21st July 2010

 Green Candle with *okay* volumes, showing buying pressure. But again, it couldn't close above the 5400 resistance level.

EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 is at 5354 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Bearish Signals:
1) NIFTY is finding it card to cross above 5400 resistance level inspite of +ve global cues today.
2) MACD and Price -ve divergence.
3) MACD on the verge of giving a sell signal.

Volume was low today at the resistance level. Unless and until, 5400 level is broken with good volumes we need to be cautious.

Questions
What is going to happen next? Let's wait and watch.