SGX-NF: 10780 (-28; -0.25%)
Expected BNF opening: 26360 (-0.25%)
SPX-500: 2727 (-4; -0.15%)
Note: Slightly gap-down opening on subdued global cues amid renewed China concern on muted economic data and trade tensions ahead of MSCI inclusion. Indian market is on edge amid close fights between INC and BJP so far in the actual counting trends. Higher core inflation and ongoing investigation of PNB frauds may also affect the sentiment as it involved high profile and top management of the bank.
Fut-I (Key Technical Levels)
Support for NF:
Resistance to NF:
Support for BNF:
Resistance to BNF:
Support for SPX-500:
Resistance to SPX-500:
Technical View (Positional-Nifty, Bank Nifty, SPX-500):
Technically, Nifty Fut-I (NF) has to sustain over 10875 for a further rally towards 10935/10975-11055/11150 and further 11195-11225/11375 in the short term (under bullish case scenario).
On the flip side, sustaining below 10850 NF may fall towards 10800/10740-10710/10660* and further 10590/10530 in the short term (under bear case scenario).
Technically, Bank Nifty-Fut (BNF) has to sustain over 26650 for a further rally towards 26800/27150-27300/27500 and further 27700-28000 in the near term (under bullish case scenario).
On the flip side, sustaining below 26600-26450 BNF may fall towards 26275/26125-26000/25800-25600/25300 in the near term (under bear case scenario).
Technically, SPX-500 now has to sustain over 2750 for a further rally towards 2775/2805-2820/2855 and further 2880-2895 in the near term (under bullish case scenario).
On the flip side, sustaining below 2745, SPX-500 may fall towards 2715/2695*-2675/2655 and further 2625/2610 in the near term (under bear case scenario).
Nifty-50: 10807; Q3FY18 EPS: 403; Q3FY18 PE: 26.81; Avg FWD PE: 20; Proj FY-18 EPS: 418; Proj Fair Value: 8360
Bank Nifty: 26475; Q3FY18 EPS: 807; Q3FY18 PE: 32.81; Avg FWD PE: 20; Proj FY-18 EPS: 961; Proj Fair Value: 19220
SPX-500: 2730; TTM Q4-2017 EPS: 111; TTM PE: 24.59
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