Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 28/06/2018

Updated: 08:15

SGX-NF: 10650 (-21; -0.20%)

Expected BNF opening: 26375 (-53; -0.20%)

SPX-500: 2712 (+7; +0.27%)

Fut-I (Key Technical Levels)

Support for NF:

10635/10615-10580*/10550-10525/10490-10440/10405

Resistance to NF:

10675/10695-10725*/10760-10805/10825-10860/10880

Support for BNF:

26300*/26200-26050/25900-25700/25550-25400/25150

Resistance to BNF:

26550*/26700-26850/26950-27050/27150-27250/27500

Support for SPX-500:

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

Resistance to SPX-500:

2750*/2770-2795/2810-2835/2855-2880/2905

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

Technically, Nifty Fut-I (NF) has to sustain over 10695 for a further rally to 10725/10760-10805/10825-10860/10880 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10675 NF may fall to 10635/10615-10580/10550-10525/10490 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26600 for a further rally to 26700/26850-26950/27050-27150/27250 in the near term (under bullish case scenario).

On the flip side, sustaining below 26550 BNF may fall to 26300/26200-26050/25900-25700/25550 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2750 for a further rally to 2770/2795-2810/2835-2855/2880 in the near term (under bullish case scenario).

On the flip side, sustaining below 2740 SPX-500 may fall to 2710/2700-2690/2670-2635/2605 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10671; Q4FY18 EPS: 395; Q4FY18 PE: 27.02; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26423; Q4FY18 EPS: 766; Q3FY18 PE: 34.49; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2700; TTM Q4-2017 EPS: 111; TTM PE: 24.32

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

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