end of wire in box?

I recently removed segments of flourescent lighting from a hallway wall in my house. There was a cable that came through the wall that supplied the power to the light. At present I have no plans to install another light using that cable, but I'd also like to keep my options open (I may want to eventually put a sconce there since the cable is positioned nicely for such a thing).

My question is, now that I've cut the wire back, how can I safely store the wire back in the wall? The wire is still attached to the switch, so it is a "live" wire (when the switch is on--the switch controls another light in the room).

What I've done for the time being is put caps on the ends of both wires (the ends of the wires aren't stripped, but I just wanted to put the caps on to make sure that the tips didn't come into contact with anything and create a circuit). Then, I recessed a plug receptacle box into the drywall, coiled the wire and caps back into it, then put a solid switchplate over it. It seems to be okay like that, but I don't want to take chances.

Is it necessary for me to find the junction box where the wire originates and remove it from there? Am I asking for trouble with my current solution?

 

If its in a box, capped and covered you did good,,, dont lose any sleep.

 

Thanks Sberry! I appreciate the feedback about this. I'll not lose any sleep! I'm always a little anxious when dealing with electrical issues, so your comment helps a great deal.