Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 10/07/2018

Updated: 08:35

SGX-NF: 10890 (+31; +0.29%)

Expected BNF opening: 26805 (+93; +0.35%)

SPX-500: 2792 (+4; +0.15%)

Fut-I (Key Technical Levels)

Support for NF:

10875*/10835-10805/10775-10725/10690-10660/10600

Resistance to NF:

10935/10955*-10990/11030-11085/11140-11190/11230

Support for BNF:

26675/26600*-26500/26400-26200/26050-25900/25700

Resistance to BNF:

26900/26950*-27050/27200-27300/27455-27675/27800

Support for SPX-500:

2770/2740*-2720/2700-2700-2690/2670-2650/2620

Resistance to SPX-500:

2795/2810*-2835-2855/2880-2905/2925-2960/3010

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

Technically, Nifty Fut-I (NF) has to sustain over 10955 for a further rally to 10990/11030-11085/11140-11190/11230 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10935 NF may fall to 10875/10835-10805/10775-10725/10690 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 26950 for a further rally to 27050/27200-27300/27455-27675/27800 in the near term (under bullish case scenario).

On the flip side, sustaining below 26900 BNF may fall to 26675/26600-26500/26400-26200/26050 in the near term (under bear case scenario).

Technically, SPX-500 now has to sustain over 2810 for a further rally to 2835-2855/2880-2905/2925-2960/3010 in the near term (under bullish case scenario).

On the flip side, sustaining below 2795 SPX-500 may fall to 2770/2740-2720/2700-2700-2690/2670 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 10853; Q4FY18 EPS: 395; Q4FY18 PE: 27.48; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26753; Q4FY18 EPS: 766; Q3FY18 PE: 34.93; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2784; TTM Q4-2017 EPS: 111; TTM PE: 25.08

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

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