Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 26/06/2018

Updated: 09:00

SGX-NF: 10715 (-44; -0.41%)

Expected BNF opening: 26484 (-120; -0.45%)

SPX-500: 2725 (+3; +0.11%)

Fut-I (Key Technical Levels)

Support for NF:

10715/10690-10670*/10645-10590/10570-10540/10520

Resistance to NF:

10760/10780-10800*/10825-10860/10880-10900/10955

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:

2710/2700-2690*/2670-2635/2605-2590/2575

Resistance to SPX-500:

2740/2755-2770*/2795-2810/2835-2855/2880

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

Technically, Nifty Fut-I (NF) has to sustain over 10800 for a further rally to 10825/10860-10880/10900-10955/11000 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10780-10760 NF may fall to 10715/10690-10670/10645-10590/10570 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 2740 for a further rally to 2755/2770-2795/2810-2835/2855 in the near term (under bullish case scenario).

On the flip side, sustaining below 2730 SPX-500 may fall to 2710/2700-2690/2670-2635/2605in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10762; Q4FY18 EPS: 395; Q4FY18 PE: 27.24; 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: 2717; TTM Q4-2017 EPS: 111; TTM PE: 24.48

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