Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 12/07/2018

Updated: 08:50

SGX-NF: 10975 (+38; +0.35%)

Expected BNF opening: 26875 (+94; +0.35%)

SPX-500: 2783 (+9; +0.32%)

Fut-I (Key Technical Levels)

Support for NF:

10945/10915*-10900/10875-10835/10805-10740/10700

Resistance to NF:

10995/11015*-11050/11085-11110/11140-11190/11230

Support for BNF:

26750/26600*-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 11015 for a further rally to 11050/11085-11110/11140-11190/11230 in the near term (under bullish case scenario). 

On the flip side, sustaining below 10995 NF may fall to 10945/10915-10900/10875-10835/10805 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 26750/26600-26500/26400-26200/26050 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: 10948; Q4FY18 EPS: 405; Q4FY18 PE: 27.03; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26816; Q4FY18 EPS: 541; Q4FY18 PE: 49.57; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2774; TTM Q4-2017 EPS: 111; TTM PE: 24.99

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NIFTY-SGX-NF

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