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. 

Nifty and Banknifty Future Key Level(s) for 16th Jan 2018

TRADE the Levels, Charts Can Adjust!
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Nifty Future (Bias - Positive) 

Trade This  [ - 10698-10725 - (Must touch) -  10762-10788 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 10761.  

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Banknifty Future  (Bias - Positive)

Trade This  [ - 25948-25970 - (Must touch) - 26119-26142 (Must Touch) ++]  [May not touch if price exceeds boundaries and sustains]

Weak Below / Strong Above 26083.  

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Nifty Update

Nifty getting more overboght  everyday and upmove is still continuing!  10800 plus strong resistance starts and 10890 plus stronger resistance and a correction for Nifty should come by from one of these levels.   The call buying yesterday is anyway positive for more upsides. Banknifty looks stronger of the two.