AFTER a short break on Thursday, the bulls were back with a vengeance yesterday in cash and futures trading. The July contract rose 345 points to 9,185 in a decisive breakthough of 9,000. The high of the day was 9,200. The next target is 9,500 where resistance is expected to be met. The premium over the cash at the close was 68 points. Jardine Fleming said: ''The cash market [which closed up 308 points at 9,117] narrowly failed to break the 250-day moving average even though the futures sailed through this important resistance level.'' Turnover was a steady 12,491 contracts and open interest was stable at 35,393 July. Dealers still remain cautious about the upsurge in the index on stable futures turnover and open interest. ''The market is definitely being manipulated and short covering is doing the rest,'' said one dealer. Index option activity picked up strongly with 5,081 options traded. Open interest is 31,162. Overseas investors were in out-of-the-money options, said JF. ''Bears continued to buy July 8,600 and 8,400 puts, while bulls switched their attentions to the next month and bought 9,200 calls,'' said JF. Implied volatility in the front month was flat at about 30 per cent.