Interpreting Charts - 22nd April 2010

NIFTY EOD as on 22nd April 2010

 Spinning top candlestick with a longer upper shadow, showing indecision. Closed above the support level of 5230.(+)
Stochastics is showing +ve bias.(+)
MACD is showing -ve bias. (-)
EMA5 is below EMA15. (-) Downward bias. EMA5 resistance at 5260. EMA 15 resistance at 5270.
Slope of EMA 5 is up.(+)

Answers for Yesterday
Price traded above the 5230 level and tried to break 5300, but bears pulled it down by the end. Shows that bears are still lurking there.

Questions
Can NIFTY continue the ride? Let's wait and watch.

World Market Analysis as on 21st April 2010