Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 19/06/2018

Updated: 08:30

SGX-NF: 10735 (-54; -0.50%)

Expected BNF opening: 26260 (-132; -0.50%)

SPX-500: 2758 (-22; -0.80%)

Fut-I (Key Technical Levels)

Support for NF:

10715/10690*-10635/10605-10560/10530-10495/10470

Resistance to NF:

10775/10805*-10825/10855-10880/10900-10955/11000

Support for BNF:

26150*/26000-25900/25750-25650/25500-25300/25150

Resistance to BNF:

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

Support for SPX-500:

2740/2725-2710/2700-2690/2675-2660/2635

Resistance to SPX-500:

2755/2780-2795/2810-2835/2855-2880/2905

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

Technically, Nifty Fut-I (NF) has to sustain over 10775 for a further rally to 10805/10825-10855/10880-10900/10955 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10755 NF may fall to 10715/10690-10635/10605-10560/10530 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 26450-26300 BNF may fall to 26150/26000-25900/25750-25650/25500 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2780 for a further rally to 2795/2810-2835/2855-2880/2905 in the near term (under bullish case scenario).

On the flip side, sustaining below 2770 SPX-500 may fall to 2755/2740-2725/2710-2700/2690 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10800; Q4FY18 EPS: 395; Q4FY18 PE: 27.34; Avg FWD PE: 20; Proj FY-19 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26409; Q4FY18 EPS: 766; Q3FY18 PE: 34.48; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2774; TTM Q4-2017 EPS: 111; TTM PE: 24.99

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

CRUDE OIL/WTI