Nifty Spot EOD 16-1-2018

Nifty reversing from Channel top it had hit on 15-1-2018.   Some retracement / sidewise moves was needed prior to any further up-move  to create room.  10683 Spot should hold for the time being for more upsides.  Whether larger c-leg from Sep, 2017 will complete or smaller c-leg of larger Sep, 2017 c-leg will complete here we have to understand to measure the price time /correction that is likely soon.  Channel top to bottom moves are getting done hence in corrections we have to track the same.  However, the current up-move can continue for another 5 to 10 days or more as well. 10800 onwards strong resistance and 10890 plus stronger upto 11060.