Market Mantra (Nifty Fut/Bank Nifty Fut/SPX-500): 18/07/2018

Updated: 08:30

SGX-NF: 11060 (+32; +0.29%)

Expected BNF opening: 27145 (+81; +0.30%)

SPX-500: 2814 (+3; +0.11%)

Fut-I (Key Technical Levels)

Support for NF:

11040/11000*-10975/10940-10920/10870-10820/10780

Resistance to NF:

11095/11115*-11150/11190-11230/11275-11305/11355

Support for BNF:

27175/27050*-26900/26800-26650/26500-26400/26250

Resistance to BNF:

27225*/27455-27675/27785-27935/28150-28300/28450

Support for SPX-500:

2805/2790*-2765/2750-2730/2705-2685/2670

Resistance to SPX-500:

2820/2835*-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 11150/11190-11230/11275-11305/11355 in the near term (under bullish case scenario). 

On the flip side, sustaining below 11095 NF may fall to 11040/11000-10975/10940-10920/10870 in the near term (under bear case scenario).

Technically, Bank Nifty Fut-I (BNF) has to sustain over 27225 for a further rally to 27455/27675-27785/27935-28150/28300 in the near term (under bullish case scenario).

On the flip side, sustaining below 27175 BNF may fall to 27050/26900-26800/26650-26500/26400 in the near term (under bear case scenario).

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

On the flip side, sustaining below 2820 SPX-500 may fall to 2805/2790-2765/2750-2730/2705 in the near term (under bear case scenario).

Valuation metrics:

Nifty-50: 11028; Q4FY18 EPS: 402; Q4FY18 PE: 27.43; Avg FWD PE: 20; Proj FY-19 EPS: 425; Proj Fair Value: 8500

Bank Nifty: 27008; Q4FY18 EPS: 519; Q4FY18 PE: 52.04; Avg FWD PE: 20; Proj FY-19 EPS: 961; Proj Fair Value: 19220

SPX-500: 2810; TTM Q4-2017 EPS: 111; TTM PE: 25.32

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NIFTY-SGX-NF

BANK NIFTY-BNF

SPX-500

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