Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 12/06/2018

Updated: 08:40

SGX-NF: 10780 (-6; -0.05%)

Expected BNF opening: 26475 (-13; -0.05%)

SPX-500: 2788 (+1; -0.04%)

Fut-I (Key Technical Levels)

Support for NF:

10750/10710*-10680/10635-10595/10565-10530/10490

Resistance to NF:

10810/10855*-10900/10955-11000/11040-11080/11150

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:

2795/2810-2835/2855-2880/2905-2935/2960

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

Technically, Nifty Fut-I (NF) has to sustain over 10855 for a further rally to 10900/10955-11000/11040-11080/11150 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10835-10810 NF may fall to 10750/10710-10680/10635-10595/10565 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 26625-26500 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 2810 for a further rally to 2835/2855-2880/2905-2935/2960 in the near term (under bullish case scenario).

On the flip side, sustaining below 2795-2775 SPX-500 may fall to 2760/2740-2725/2715-2700/2690 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10787; Q4FY18 EPS: 395; Q4FY18 PE: 27.31; Avg FWD PE: 20; Proj FY-19 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26454; Q4FY18 EPS: 766; Q3FY18 PE: 34.54; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2782; TTM Q4-2017 EPS: 111; TTM PE: 25.06

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

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