Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 25/06/2018

Updated: 08:05

SGX-NF: 10785 (-52; -0.48%)

Expected BNF opening: 26660 (-134; -0.50%)

SPX-500: 2746 (-13; -0.48%)

Fut-I (Key Technical Levels)

Support for NF:

10775/10740-10715*/10690-10670/10645-10590/10570

Resistance to NF:

10825/10860-10880*/10900-10955/11000-11040/11080

Support for BNF:

26600/26500-26300*/26200-26000/25900-25700/25550

Resistance to BNF:

26700/26850*-26950/27050-27150/27250-27500/27675

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 10880 for a further rally to 10900/10955-11000/11040-11080/11140 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10860-10825 NF may fall to 10775/10740-10715/10690-10670/10645 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26850 for a further rally to 26950/27050-27150/27250-27500/27675 in the near term (under bullish case scenario).

On the flip side, sustaining below 26800-26700 BNF may fall to 26600/26500-26300/26200-26000/25900 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: 27.40; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26767; Q4FY18 EPS: 766; Q3FY18 PE: 34.94; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2755; TTM Q4-2017 EPS: 111; TTM PE: 24.82

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