Nifty Spot Update - Revised EOD 25-1-2018

Nifty is in the e-leg inside c-leg of heigher level c-leg. e-leg got over above 11110.8 or not will be clear if this sidewise correction lasts for more than 3 days (only one day old till now)

10877/10890/11000 must hold    and (11100-11300) is the Key resistance for  (11600-11700)-11900 - 12176/12450

A 300 point like correction should come either next week or from Feb 3rd week for atleast 30 days.

Budget is ahead so if it can take it to 11600 or not needs to be seen.  Nifty is at overbought levels hence caution on very strong upmove as some sharp correction may also keep coming from time to time.

Update on Nifty Spot

11008-(11067-11085)-11153-(11263-11275)  Resistance
10923-(10948-10966)-10984 Support

Close to the interim top so caution starts.  Highly overbought as well.