Update of Nifty & USDINR

"Rock and Roll"

My earlier Nifty and USDINR view still intact and it is on the way to the Targets.In this Nifty attained the 1st Target then it given the buying opportunity dip around 200 points.( In this I slightly confused in the internals but that is no matter because we haven't make any loss).
Now we are all the way toward medium term targets. Now Nifty made the high of 5720 and USDINR made the low of 53.44.

To refer the earlier post of Nifty ! (Click Here)
To refer the earlier post of USDINR ! (Click Here)  

Yesterday's movement may confused many analysts but very few were away from the crowd and strong in their views, Elliot Wave can make you "Unique" from the crowd. (Rare times you looks very very stupid, however that is also Unique trait)!!!

My Yesterday's Commentary - For Todays Market (21-Sep)

Crucial Support @ 5520. The action formed an indecisive candle with reasonable volume. As we had indicated earlier (Slide below 5585) now minor negative stance came into sight. Technically, Nifty is near to the crucial support of 5520. Unless violation of this level bulls are in the safe zone, and our wave count and bullish stance remains same for the target of 5653 - 5900.  Inability to hold the support could attract selling pressure and push the index lower towards next support at 5450. The level of 5653 is acting as immediate resistance; on rise above 5653 next leg begins for the medium term target of 5900.     

On the upside Nifty faces resistance at the 5590 – 5653 levels. The 5520 – 5450 are important support levels for Nifty.