Interpreting Stocks - 14th June 2010

NIFTY EOD Analysis as on 14th June 2010

  Green candlestick with higher volume than yesterday showing buying pressure.
CMF is showing +ve bias compared to yesterday(+).
Stochastics is showing +ve bias(+) and is in OB zone.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)

Answers for Yesterday
Today it was BULLS day, as a bullish green candle was formed whose close was near day's high. Also, it made higher high and high low. It also broke the resistance level of 5150 and marched ahead.
Now, we have reached the most important level, in my opinion. NIFTY need to break the 5230-5240 level of resistance to show that it is really a bullish bias in the short term scenario. Firstly, the horizontal support line will have to be broken, also there is a crossover waiting of EMA 13,39. If both these are accomplished then we are going UP in the bullish zone.

Questions
Can Bulls power their way above 5230/5240? Let's wait and watch.