Nifty :Going to 5500?

I thought a bounce was coming so that i could short form higher levels. But the major supports got broken at 5840 . And now I m short. Next major support looks at 5620. But look at the weekly chart with bollinger levels.The bollinger bands are working perfectly here with perfect touches and reversals.  And we should touch 5520 looking at this one.

US Dollar: More Down move left

See the Chart below . The whole wedge shown by RED lines was retraced to hit target in red circle. This time too , similar formation and whole blue wedge will be retraced to hit target area shown by red rectangle.

Some upmove for stocks expected.

Nifty between lines

Just like the nifty gave accurate touches of the blue line during the rally, this volatility is being done within the boundaries of the red lines. Perfect touch of the lower red line, short term indicators like CCI(8) are oversold and showing divergence ; we should expect a hit at the upper RED line . Minimum expected from this up move is 6050 area in Nifty futures.

This is not the start of a big rally though . I am expecting BIG bearish session to begin after this up-move.