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Outlook for Nifty future for Wednesday September 26, 2018: After sharp fall in price witnessedcontinuously since 17th September, 2018, price rebounded from thelow of 10909 to close at 11097, almost at day’s high & almost 200 pointsabove day’s low, suggesting some buying & short-covering at lower levels.The trend deciding level for September 26, 2018, emerges at 11013 mark, thissuggests as long as price sustains above 11013 the intraday trend standspositive, although the broader trend stands negative below 11246, closingbasis. For the day, a lower opening around 11054 likely to offer a buyingopportunity with stop placed below the trend deciding mark of 11013. On theupmove the immediate resistance is placed at 11134, on the event of not sostrong demand, price likely to reverse from around this level. Only if pricesustains above 11134 on hourly closing basis chances are that price likely tomove further high towards 11216 – 11240 depending upon the strength of demand.On the contrary, an hourly close below 11013 likely to generate fresh supplymomentum taking price lower towards 10939 – 10880 during the day.


Outlook for Bank Nifty future for Wednesday September 26, 2018: The broader trend stands negative, but inimmediate short-term a consolidation break-out is seen on hourly time-frame,with price provisionally closing almost at day’s high, suggesting further pullback likely. The trend deciding level for the day emerges at 25260 mark, anyinitial decline in price towards the trend deciding mark likely to offer abuying opportunity with stop placed below 25050. On the upmove resistance areplaced at 25522 & 25742, strong supply area is placed around 25742 &hence price moving past 25742 has a very low probability. On the contrary, ifprice sustains below 25000 level during the day, chances are that it will againre-test the recent low of 24700 mark.


For Wednesday, September 26, 2018,the trend reversal point for Nifty stands at 11234 in spot. Any close ABOVE11234 in spot on Wednesday will change the trend in Nifty to POSITIVE. For Bank Nifty, the trend reversal level inspot now comes at 26108. This implies that a close ABOVE 26108 on Wednesday forBank nifty in spot will change the trend in that index in to POSITIVE.

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