Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 22/06/2018

Updated: 08:05

SGX-NF: 10705 (-27; -0.25%)

Expected BNF opening: 26400 (-66; -0.25%)

SPX-500: 2757 (+5; +0.17%)

Fut-I (Key Technical Levels)

Support for NF:

10690/10670-10645*/10600-10570/10545-10520/10480

Resistance to NF:

10715/10740-10760/10780*-10805/10825-10855/10880

Support for BNF:

26400/26300*-26200/25900-25700/25550-25350/25150

Resistance to BNF:

26500/26695*-26850/26950-27050/27150-27250/27500

Support for SPX-500:

2740/2730*-2710/2700-2690/2670-2635/2605

Resistance to SPX-500:

2770/2795*-2810/2835-2855/2880-2905/2925

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

Technically, Nifty Fut-I (NF) has to sustain over 10780 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 10760-10740 NF may fall to 10715/10690-10670/10645-10600/10570 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26695 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 26645-26500 BNF may fall to 26400/26300-26200/25900-25700/25550 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2795 for a further rally to 2810/2835-2855/2880-2905/2925 in the near term (under bullish case scenario).

On the flip side, sustaining below 2780-2770 SPX-500 may fall to 2740/2730-2710/2700-2690/2670 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10741; Q4FY18 EPS: 395; Q4FY18 PE: 27.19; Avg FWD PE: 20; Proj FY-19 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26497; Q4FY18 EPS: 766; Q3FY18 PE: 34.59; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2750; TTM Q4-2017 EPS: 111; TTM PE: 24.77

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