Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 08/06/2018

Updated: 08:50

SGX-NF: 10705 (-56; -0.52%)

Expected BNF opening: 26410 (-146; -0.55%)

SPX-500: 2771 (-2; -0.06%)

Fut-I (Key Technical Levels)

Support for NF:

10685/10665*-10625/10585-10545/10525-10495/10425

Resistance to NF:

10755/10785*-10825/10855-10900/10955-11000/11040

Support for BNF:

26500*/26400-26300/26100-26000/25850-25750/25500

Resistance to BNF:

26675/26850*-26950/27050-27150/27250-27500/27650

Support for SPX-500:

2760/2740-2725/2715-2700/2690-2675/2655

Resistance to SPX-500:

2775/2790-2810/2835-2855/2880-2905/2960

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

Technically, Nifty Fut-I (NF) has to sustain over 10755 for a further rally to 10785/10825-10855/10900-10955/11000 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10735 NF may fall to 10685/10665-10625/10585-10545/10525 in the near term (under bear case scenario).

Technically, Bank Nifty-Fut (BNF) has to sustain over 26675 for a further rally to 26850/26950-27050/27150-27250/27500 in the near term (under bullish case scenario).

On the flip side, sustaining below 26625-26500 BNF may fall to 26400/26300-26100/26000-25850/25750 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2790 for a further rally to 2810/2835-2855/2880-2905/2960 in the near term (under bullish case scenario).

On the flip side, sustaining below 2775 SPX-500 may fall to 2760/2740-2725/2715-2700/2690 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10768; Q4FY18 EPS: 395; Q4FY18 PE: 27.26; Avg FWD PE: 20; Proj FY-19 EPS: 418; Proj Fair Value: 8360

Bank Nifty: 26518; Q4FY18 EPS: 766; Q3FY18 PE: 34.62; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2770; TTM Q4-2017 EPS: 111; TTM PE: 24.95

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

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