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Outlook for Nifty future for Thursday July 19, 2018: Price is seen forming a Double-Top patternaround 11075 level & falling lower towards its support area. As of now theimmediate range for Nifty future stands at (11075 – 10917). The immediate resistanceis placed at around 11010, now a hourly close above the stated level likely togenerate fresh demand side momentum taking price higher towards 11040 -11070depending upon the strength of demand. An hourly closing above 11075 likely tobe further positive, which may result in price to move towards 11152 inshort-term. On the contrary, if price fails to clear the resistance of 11010,it’s likely to reverse lower towards the immediate support of 10955. Now, ifprice sustains below 10955 fresh supply side momentum likely which may dragprice lower towards the next support zone of 10932-10917.On the event of pricesustaining/ closing below 10917, the immediate trading trend will reverse tonegative again with key support placed at 10876 & 10815.

                                    

Outlook for Bank Nifty future for Thursday July 19, 2018: The short-term trend in Bank nifty standspositive above 26650 on daily closing basis. This implies only a closing below26650 will reverse the trend to negative again. The immediate support ofBankNifty future is placed at around 26870, on the event of not so strongsupply price likely to get arrested around this level. If price sustains below26870 during the day, chances are high that price likely to fall further towards26800-26790. From a short-term trend based perspective, traders may initiatelong around 26800 with stop placed below 26650. The immediate resistance isplaced at 27040, an hourly close above the stated level likely to generatefresh demand momentum, thereby raising the probability of price to rise furthertowards the next resistance of 27150 during the day.

 

For Thursday, July 19, 2018, thetrend reversal point for Nifty stands at 10892 in spot. Any close BELOW 10892in spot on Thursday will change the trend in Nifty to NEGATIVE.For Bank Nifty, the trend reversal level in spot now comes at 26610. Thisimplies that a close BELOW 26610 on Thursday for Bank nifty in spot will changethe trend in that index in to NEGATIVE.

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