Interpreting Stocks : 9th July 2010

NIFTY EOD Analysis as on 9th July 2010

  Today, a big green candle was formed which broke above the resistance level at 5300 and closed above it. Volume was also high today, showing the positive sentiment now.
MACD is also showing +ve bias and on the verge of giving a buy signal.
EMA3 is above EMA13 (+).
Slope of EMA 13 is up.(~)  EMA 13 is at 5274 level
EMA13>EMA39.(+)

Answers for Yesterday
Todays Bearish Signals:
1. MACD is below the signal line till now.
2. There is a small resistance/congestion level at 5400.

NIFTY now shows positive bias if we take into consideration today's action. The Volume has been high today, also it broke above the resistance around 5300 level. Now, if all favours well in global market, we should move up from here. The only roadblock now seems to be little congestion at 5400 level. But, that should not cause much problem if the positive sentiment persists in global market.

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