Interpreting Stocks - 17th June 2010

NIFTY EOD Analysis as on 17th June 2010

Green candle showing buying pressure. Volume was lower than yesterday. But today, Bulls marched ahead the resistance level of 5230/5240 and closed above it.
CMF is showing +ve bias compared to yesterday(+).
Stochastics is showing flat bias(~) and is in OB zone kissing the signal line.
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)
EMA13>EMA39.(+)

Answers for Yesterday
Today, Bulls broke the resistance level at 5230/5240 and closed above it showing that bulls are more powerful than the bears at the moment. Going above NIFTY has some resistances, the next one being at 5300 level and 5400 level.
If we look back in this rally, we can see that the bullish run has extended to 7 continuous days and NOW since the last 3 days volumes have been declining. So, i expect a sideways movement or the rally to subdue a bit.

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

Quote of the Day - 17th June 2010

"Our heads are round so that thoughts can change direction." 
        -Francis Picabia