Interpreting Stocks - 1st July 2010

NIFTY EOD Analysis as on 1st July 2010

   Red Candle negated yesterday's piercing pattern candlestick. The resistance at 5300 is proving very strong resistance to break. Volume was comparitively low today.
CMF is showing -ve bias compared to yesterday(~).
ADX is flat showing that still it is not clear who is having a upper hand- the bulls or bears?
EMA3 is above above EMA13 (+).
Slope of EMA 13 is up.(+)  EMA 13 of at 5259 level
EMA13>EMA39.(+)

Answers for Yesterday
Bears charged in today and pulled NIFTY down from the resistance level. Though, volume was low, now it looks like bears are more in command because of :
1. Bulls unable to break above the resistance level at 5300
2. MACD on the verge of giving breakdown signal.

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