Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 13/07/2018

Updated: 08:45

SGX-NF: 11040 (+25; +0.23%)

Expected BNF opening: 27060 (+65; +0.25%)

SPX-500: 2804 (+6; +0.21%)

Fut-I (Key Technical Levels)

Support for NF:

11015/10970*-10945*/10915-10875/10830-10785/10765

Resistance to NF:

11095/11115*-11150/11190*-11230/11275-11385/11500

Support for BNF:

27050/26900*-26800/26750-26500/26400-26200/26050

Resistance to BNF:

27200/27300*-27455/27675-27800/27925-28100/28450

Support for SPX-500:

2795*/2770-2740/2720-2700/2700-2690/2670

Resistance to SPX-500:

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

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

Technically, Nifty Fut-I (NF) has to sustain over 11115 for a further rally to 11150/11190-11230/11275-11385/11500 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11095-11065 NF may fall to 11015/10970-10945/10915-10875/10830 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27300 for a further rally to 27455/27675-27800/27925-28100/28450 in the near term (under bullish case scenario).

On the flip side, sustaining below 27250-27200 BNF may fall to 27050/26900-26800/26750-26500/26400 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 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: 11023; Q4FY18 EPS: 405; Q4FY18 PE: 27.22; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 27027; Q4FY18 EPS: 541; Q4FY18 PE: 49.96; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2798; TTM Q4-2017 EPS: 111; TTM PE: 25.21

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NIFTY-SGX-NF

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