Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 11/06/2018

Updated: 08:40

SGX-NF: 10770 (+32; +0.30%)

Expected BNF opening: 26515 (+80; +0.30%)

SPX-500: 2780 (-2; -0.08%)

Fut-I (Key Technical Levels)

Support for NF:

10755/10715-10680/10635*-10595/10565-10530/10490

Resistance to NF:

10785/10805-10825/10855*-10900/10955-11000/11040

Support for BNF:

26500*/26400-26300/26100-26000/25850-25750/25500

Resistance to BNF:

26675/26850*-26950/27050-27150/27250-27500/27650

Support for SPX-500:

2775/2760-2740/2725-2715/2700-2690/2675

Resistance to SPX-500:

2790/2810-2835/2855-2880/2905-2935/2960

Technical View (Nifty, Bank Nifty, SPX-500):

Technically, Nifty Fut-I (NF) has to sustain over 10805 for a further rally to 10825/10855-10900/10955-11000/11040 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10785 NF may fall to 10755/10715-10680/10635-10595/10565 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26675 for a further rally to 26850/26950-27050/27150-27250/27500 in the near term (under bullish case scenario).

On the flip side, sustaining below 26625-26575/26500 BNF may fall to 26400/26300-26100/26000-25850/25750 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2790 for a further rally to 2810/2835-2855/2880-2905/2935 in the near term (under bullish case scenario).

On the flip side, sustaining below 2775 SPX-500 may fall to 2760/2740-2725/2715-2700/2690 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10768; Q4FY18 EPS: 395; Q4FY18 PE: 27.26; Avg FWD PE: 20; Proj FY-19 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26451; Q4FY18 EPS: 766; Q3FY18 PE: 34.53; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2779; TTM Q4-2017 EPS: 111; TTM PE: 25.04

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

WTI