Updated: 08:40
SGX-NF: 11330 (-10; -0.09%)
Expected BNF opening: 27825 (-30;-0.10%)
SPX-500: 2805 (+2; +0.07%)
Fut-I (Key Technical Levels)
Support for NF:
11305/11275*-11225/11175-11145/11100-11065/11015
Resistance to NF:
11365/11385*-11415/11500-11535/11605-11680/11725
Support for BNF:
27850/27750-27640*/27500-27400/27300-27150/27000
Resistance to BNF:
27950*/28150-28300/28450-28525/28685-28800/29100
Support for SPX-500:
2805/2790*-2760/2740-2710/2695-2665/2640
Resistance to SPX-500:
2825/2860*-2880/2905-2925/2960-3010/3035
Technical
View (Nifty, Bank Nifty, SPX-500):
Technically, Nifty Fut-I (NF) has to sustain over 11385 for a
further rally to 11415/11500-11535/11605-11680/11725 in the near term (under
bullish case scenario).
On the flip side, sustaining below 11365 NF may fall to 11305/11275-11225/11175-11145/11100
in the near term (under bear case scenario).
Technically, Bank Nifty Fut-I (BNF) has to sustain over 27950
for a further rally to 28150/28300-28450/28525-28685/28800 in the near term (under bullish case
scenario).
On the flip side, sustaining below 27900-27850 BNF may fall to 27750/27640-27500/27400-27300/27150
in the near term (under bear case scenario).
Technically, SPX-500 has to
sustain over 2825 for a further rally to 2860/2880-2905/2925-2960/3010 in the near term (under bullish case
scenario).
On the flip side, sustaining below
2815-2805 SPX-500 may fall to 2790/2760-2740/2710-2695/2665 in the near term (under bear case
scenario).
Valuation metrics:
Nifty-50: 11320; Q4FY18 EPS: 402; Q4FY18 PE: 28.16;
Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500
Bank Nifty: 27843; Q4FY18 EPS: 519; Q4FY18 PE: 53.65;
Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220
SPX-500: 2803; TTM Q4-2017 EPS: 111; TTM PE: 25.25
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