Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 18/06/2018

Updated: 08:30

SGX-NF: 10785 (-34; -0.31%)

Expected BNF opening: 26315 (-92; -0.35%)

SPX-500: 2772 (-12; -0.43%)

Fut-I (Key Technical Levels)

Support for NF:

10745*/10710-10680/10640-10610/10560-10530/10495

Resistance to NF:

10805/10825-10855/10880*-10900/10955-11000/11040

Support for BNF:

26300/26190*-26100/26000-25900/25750-25650/25500

Resistance to BNF:

26500*/26675-26850/26950-27050/27150-27250/27500

Support for SPX-500:

2770/2755-2740/2725-2715/2700-2690/2675

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 10825 for a further rally to 10855/10880-10900/10955-11000/11040 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10805 NF may fall to 10745/10710-10680/10640-10610/10560 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26500 for a further rally to 26675/26850-26950/27050-27150/27250 in the near term (under bullish case scenario).

On the flip side, sustaining below 26450 BNF may fall to 26300/26190-26100/26000-25900/25750 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 SPX-500 may fall to 2770/2755-2740/2725-2715/2700 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10818; Q4FY18 EPS: 395; Q4FY18 PE: 27.39; Avg FWD PE: 20; Proj FY-19 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26417; Q4FY18 EPS: 766; Q3FY18 PE: 34.49; 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

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