Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 05/06/2018

Updated: 08:25

SGX-NF: 10580 (-26; -0.25%)

Expected BNF opening: 26150 (-65; -0.25%)

SPX-500: 2744 (-1; +0.05%)

Fut-I (Key Technical Levels)

Support for NF:

10550/10515-10465/10425-10405/10390-10360/10315

Resistance to NF:

10595/10635-10685/10710-10755/10775-10800/10855

Support for BNF:

26100/26000-25900/25700-25550/25300-25150/24900

Resistance to BNF:

26300/26500-26650/26850-26950/27050-27150/27250

Support for SPX-500:

2705*/2690-2670/2650-2625/2610

Resistance to SPX-500:

2745/2760-2775/2890-2810/2835

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

Technically, Nifty Fut-I (NF) has to sustain over 10635 for a further rally to 10685/10710-10755/10775-10800/10855 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10615-10595 NF may fall to 10550/10515-10465/10425-10405/10390 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26300 for a further rally to 26500/26650-26850/26950-27050/27150 in the near term (under bullish case scenario).

On the flip side, sustaining below 26250 BNF may fall to 26100/26000-25900/25700-25550/25300 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2760 for a further rally to 2775/2890-2810/2835 in the near term (under bullish case scenario).

On the flip side, sustaining below 2745-2720 SPX-500 may fall to 2705/2690-2670/2650 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10628; Q3FY18 EPS: 403; Q3FY18 PE: 26.37; Avg FWD PE: 20; Proj FY-18 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26258; Q3FY18 EPS: 807; Q3FY18 PE: 32.54; Avg FWD PE: 20; Proj FY-18 EPS: 961; Proj Fair Value: 19220

SPX-500: 2747; TTM Q4-2017 EPS: 111; TTM PE: 24.75

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