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

Updated: 08:30

SGX-NF: 10580 (-30; -0.28%)

Expected BNF opening: 26180 (-80; -0.30%)

SPX-500: 2753 (+1; +0.05%)

Fut-I (Key Technical Levels)

Support for NF:

10545/10515-10480/10425-10390/10360-10315/10295

Resistance to NF:

10595/10655-10685/10725-10755/10775-10800/10855

Support for BNF:

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

Resistance to BNF:

26400/26550-26650/26850-26950/27050-27150/27250

Support for SPX-500:

2740/2725-2715/27000-2690/2675-2655/2625

Resistance to SPX-500:

2760/2775-2790/2810-2835/2855-2880/2905

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

Technically, Nifty Fut-I (NF) has to sustain over 10655 for a further rally to 10685/10725-10755/10775-10800/10855 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10635-10595 NF may fall to 10545/10515-10480/10425-10390/10360 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26400 for a further rally to 26550/26650-26850/26950-27050/27150 in the near term (under bullish case scenario).

On the flip side, sustaining below 26350 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 2775/2790-2810/2835-2855/2880 in the near term (under bullish case scenario).

On the flip side, sustaining below 2750-2740 SPX-500 may fall to 2725/2715-2700/2690-2675/2655 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10593; Q4FY18 EPS: 395; Q4FY18 PE: 26.82; Avg FWD PE: 20; Proj FY-19 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26251; Q4FY18 EPS: 766; Q3FY18 PE: 34.27; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

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

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NIFTY-SGX-NF

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SPX-500

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