Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 16/07/2018

Updated: 08:35

SGX-NF: 11015 (-7; -0.06%)

Expected BNF opening: 26935 (-29; -0.10%)

SPX-500: 2805 (+2; +0.08%)

Fut-I (Key Technical Levels)

Support for NF:

10980/10940*-10905/10870-10830/10780-10730/10715

Resistance to NF:

11075/11095*-11115/11150-11190/11230-11275/11385

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 11095-11075 NF may fall to 11015/10980-10940/10905-10870/10830 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: 11019; Q4FY18 EPS: 402; Q4FY18 PE: 27.41; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 26936; Q4FY18 EPS: 519; Q4FY18 PE: 51.90; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2801; TTM Q4-2017 EPS: 111; TTM PE: 25.23

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

CRUDE OIL-WTI