Nifty Spot EOD 30-1-2018 - Neowave Analysis

e-leg of lower level c-leg of one level higher c-leg  top was made on the 29th of Jan, 2018 at 11171.55 and now nifty is coming down for the f-leg and this may at the most test b-d line around 10915-10940 zone or other calculations tell us f-leg  may conclude roughly between 11023.80 and  10981.60. The final g-leg up of higher level c-leg is due thereafter and which could last for 6/7 days and retrace 61.8% atleast (failure) or to be of large size and rally 400 points plus as well.  We will wait and watch. The correction after completion of g-leg should last about 30 days or so and this correction also can be worked out seeing the structure.  The budget should take care of the formation. We may have completed c-leg of higher level c-leg of 10900 breaks.